New York Community Bancorp (NYSE:NYCB) Trading 1.8% Higher

New York Community Bancorp, Inc. (NYSE:NYCB) shares traded up 1.8% during mid-day trading on Monday . The stock traded as high as $2.97 and last traded at $2.89. 7,117,548 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 36,671,121 shares. The stock had previously closed at $2.84.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays assumed coverage on shares of New York Community Bancorp in a research report on Friday, March 8th. They issued an “equal weight” rating and a $4.00 target price on the stock. Keefe, Bruyette & Woods cut shares of New York Community Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $14.00 to $12.00 in a research report on Monday, December 18th. Wedbush decreased their target price on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating on the stock in a research report on Thursday, March 7th. Raymond James cut shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Monday, March 18th. Finally, DA Davidson cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.50 to $5.00 in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.43.

New York Community Bancorp Stock Up 3.5 %

The firm’s 50-day moving average price is $3.85 and its 200 day moving average price is $7.80. The firm has a market cap of $2.35 billion, a P/E ratio of 0.87, a price-to-earnings-growth ratio of 31.60 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.56). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $0.25 EPS. As a group, research analysts expect that New York Community Bancorp, Inc. will post 0.01 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s payout ratio is currently 6.01%.

Insider Buying and Selling

In other New York Community Bancorp news, Director Peter Schoels purchased 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now owns 147,438 shares of the company’s stock, valued at $611,867.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter Schoels acquired 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the acquisition, the director now owns 147,438 shares in the company, valued at approximately $611,867.70. The disclosure for this purchase can be found here. Insiders purchased 213,410 shares of company stock valued at $875,626 over the last 90 days. 1.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New York Community Bancorp

A number of large investors have recently made changes to their positions in NYCB. JPMorgan Chase & Co. increased its holdings in New York Community Bancorp by 6.2% in the first quarter. JPMorgan Chase & Co. now owns 1,081,423 shares of the financial services provider’s stock worth $11,593,000 after buying an additional 63,418 shares during the last quarter. American Century Companies Inc. boosted its position in New York Community Bancorp by 95.1% during the first quarter. American Century Companies Inc. now owns 146,581 shares of the financial services provider’s stock worth $1,571,000 after purchasing an additional 71,460 shares during the period. US Bancorp DE boosted its position in shares of New York Community Bancorp by 2.7% in the first quarter. US Bancorp DE now owns 60,084 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 1,587 shares during the period. AlphaCrest Capital Management LLC boosted its position in shares of New York Community Bancorp by 122.0% in the first quarter. AlphaCrest Capital Management LLC now owns 36,608 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 20,121 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in shares of New York Community Bancorp in the first quarter valued at approximately $235,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.