New York Community Bancorp (NYSE:NYCB) Shares Up 5.9% – What’s Next?

New York Community Bancorp, Inc. (NYSE:NYCB) shares shot up 5.9% on Friday . The company traded as high as $11.60 and last traded at $11.60. 785,820 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 8,397,873 shares. The stock had previously closed at $10.95.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NYCB. Citigroup upped their price objective on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Barclays raised New York Community Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $10.00 to $14.00 in a research note on Thursday, September 26th. Wedbush reissued a “neutral” rating and issued a $31.50 target price on shares of New York Community Bancorp in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their price target on New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Stock Up 7.6 %

The company’s fifty day simple moving average is $10.73 and its 200 day simple moving average is $12.02. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. The firm has a market capitalization of $3.22 billion, a PE ratio of 392.67 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($1.89). The firm had revenue of $671.00 million for the quarter, compared to the consensus estimate of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The company’s revenue for the quarter was down 44.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.23 earnings per share. Analysts anticipate that New York Community Bancorp, Inc. will post -2.42 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Saturday, September 7th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. New York Community Bancorp’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Trading of New York Community Bancorp

A number of hedge funds have recently made changes to their positions in NYCB. Versant Capital Management Inc raised its holdings in New York Community Bancorp by 3,583.0% in the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock worth $27,000 after buying an additional 8,026 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in New York Community Bancorp by 26.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 1,803 shares during the last quarter. Hantz Financial Services Inc. bought a new position in New York Community Bancorp in the 2nd quarter valued at approximately $28,000. Carmichael Hill & Associates Inc. boosted its stake in New York Community Bancorp by 201.0% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 6,029 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of New York Community Bancorp by 66.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 3,876 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

About New York Community Bancorp

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.