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

New York Community Bancorp, Inc. (NYSE:NYCB) rose 0.3% on Wednesday . The stock traded as high as $2.95 and last traded at $2.92. Approximately 10,803,152 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 21,008,084 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

Several research analysts recently commented on NYCB shares. TheStreet downgraded New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. 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 company from $8.50 to $5.00 in a research report on Wednesday, February 7th. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. Wedbush lowered their target price on New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating on the stock in a report on Thursday, March 7th. Finally, Citigroup cut their price target on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 7th. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.43.

New York Community Bancorp Trading Up 0.3 %

The company has a 50 day moving average price of $3.77 and a 200 day moving average price of $7.68. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 0.88, a price-to-earnings-growth ratio of 32.38 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB) last posted 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 during the quarter, compared to analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period in the previous year, the company earned $0.25 EPS.

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 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 dividend yield of 6.85%. New York Community Bancorp’s payout ratio is currently 6.01%.

Insider Activity at New York Community Bancorp

In other news, Director Marshall Lux purchased 27,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Marshall Lux bought 27,100 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the transaction, the director now directly owns 64,872 shares in the company, valued at approximately $239,377.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction dated 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 transaction, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 213,410 shares of company stock worth $875,626. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in shares of 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 worth $27,000 after acquiring an additional 8,026 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of New York Community Bancorp during the second quarter worth approximately $27,000. Orion Capital Management LLC acquired a new stake in New York Community Bancorp in the third quarter valued at approximately $28,000. Loomis Sayles & Co. L P purchased a new stake in shares of New York Community Bancorp in the 3rd quarter valued at approximately $29,000. Finally, Lazard Asset Management LLC acquired a new stake in New York Community Bancorp in the fourth quarter valued at $29,000. Hedge funds and other institutional investors 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.