New York Community Bancorp (NYSE:NYCB) Trading Down 1.7%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price fell 1.7% during trading on Friday . The company traded as low as $2.87 and last traded at $2.95. 4,398,287 shares were traded during trading, a decline of 88% from the average session volume of 36,880,523 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NYCB. Morgan Stanley lowered their price objective on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Royal Bank of Canada lowered their price target on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Bank of America downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.50 to $5.00 in a report on Wednesday, February 7th. TheStreet downgraded New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Monday, February 5th. Finally, Keefe, Bruyette & Woods downgraded New York Community Bancorp from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $14.00 to $12.00 in a report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat, New York Community Bancorp presently has a consensus rating of “Hold” and a consensus target price of $5.43.

New York Community Bancorp Price Performance

The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The company has a 50 day moving average price of $3.85 and a 200 day moving average price of $7.82. The firm has a market cap of $2.27 billion, a PE ratio of 0.85 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS 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 company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter last year, the company earned $0.25 EPS.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Transactions at New York Community Bancorp

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

Institutional Trading of New York Community Bancorp

Several large investors have recently bought and sold shares of NYCB. JPMorgan Chase & Co. raised its stake in shares of New York Community Bancorp by 6.2% during the 1st 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. increased its holdings in New York Community Bancorp by 95.1% during the 1st quarter. American Century Companies Inc. now owns 146,581 shares of the financial services provider’s stock valued at $1,571,000 after acquiring an additional 71,460 shares in the last quarter. US Bancorp DE increased its holdings in New York Community Bancorp by 2.7% during the 1st 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 in the last quarter. AlphaCrest Capital Management LLC increased its holdings in New York Community Bancorp by 122.0% during the 1st 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 in the last quarter. Finally, Natixis Advisors L.P. purchased a new position in New York Community Bancorp during the 1st quarter valued at about $235,000. 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.