New York Community Bancorp (NYSE:NYCB) Trading Up 0.3%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price was up 0.3% on Friday . The company traded as high as $2.98 and last traded at $2.96. Approximately 2,293,983 shares traded hands during trading, a decline of 94% from the average daily volume of 35,402,668 shares. The stock had previously closed at $2.95.

Analyst Ratings Changes

A number of analysts have weighed in on NYCB shares. Deutsche Bank Aktiengesellschaft downgraded New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their price target for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. Citigroup cut their price objective on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Wedbush dropped their price target 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. Bank of America cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.50 to $5.00 in a research report on Wednesday, February 7th. Finally, 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. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.43.

New York Community Bancorp Price Performance

The company has a market capitalization of $2.36 billion, a PE ratio of 0.89 and a beta of 0.91. The firm has a fifty day moving average of $3.72 and a two-hundred day moving average of $7.61. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last released 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). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter last year, the business posted $0.25 EPS. Research analysts anticipate that New York Community Bancorp, Inc. will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.76%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is currently 6.01%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On New York Community Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in New York Community Bancorp by 3,583.0% during the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 8,026 shares during the period. Point72 Hong Kong Ltd bought a new stake in New York Community Bancorp during the second quarter worth approximately $27,000. Orion Capital Management LLC bought a new stake in New York Community Bancorp during the third quarter worth approximately $28,000. Loomis Sayles & Co. L P bought a new stake in New York Community Bancorp during the third quarter worth approximately $29,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of New York Community Bancorp in the fourth quarter valued at approximately $29,000. 67.88% of the stock is currently owned by hedge funds and other 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.