New York Community Bancorp (NYSE:NYCB) Stock Price Down 2.4%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price was down 2.4% during trading on Thursday . The stock traded as low as $2.84 and last traded at $2.89. Approximately 9,445,488 shares were traded during trading, a decline of 75% from the average daily volume of 37,160,445 shares. The stock had previously closed at $2.96.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NYCB shares. Jefferies Financial Group downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Royal Bank of Canada lowered their price objective on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Tuesday. Barclays started coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They set an “equal weight” rating and a $4.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $11.50 to $5.50 in a research note on Wednesday, February 7th. Finally, Bank of America cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.50 to $5.00 in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Stock Down 5.2 %

The firm has a market cap of $2.27 billion, a PE ratio of 0.85 and a beta of 0.91. The business’s 50 day moving average price is $3.85 and its 200 day moving average price is $7.85. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. During the same period in the prior year, the firm earned $0.25 EPS.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 7.03%. New York Community Bancorp’s payout ratio is presently 6.01%.

Insider Buying and Selling

In other news, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.41 per share, with a total value of $49,877.10. Following the transaction, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.41 per share, with a total value of $49,877.10. Following the transaction, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alessandro Dinello bought 50,000 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $4.19 per share, with a total value of $209,500.00. Following the acquisition, the chairman now owns 114,305 shares in the company, valued at approximately $478,937.95. The disclosure for this purchase can be found here. Insiders have acquired a total of 213,410 shares of company stock valued at $875,626 in the last ninety days. Company insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in New York Community Bancorp by 61.4% during the 1st quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock worth $319,548,000 after purchasing an additional 13,450,558 shares during the period. Norges Bank acquired a new stake in New York Community Bancorp during the 4th quarter worth $77,628,000. Balyasny Asset Management L.P. acquired a new stake in New York Community Bancorp during the 1st quarter worth $55,839,000. Wellington Management Group LLP lifted its stake in shares of New York Community Bancorp by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after acquiring an additional 4,723,876 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in shares of New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after acquiring an additional 3,114,070 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

New York Community Bancorp Company Profile

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.