New York Community Bancorp (NYSE:NYCB) Stock Price Up 1%

New York Community Bancorp, Inc. (NYSE:NYCB) shares shot up 1% during trading on Tuesday . The company traded as high as $3.20 and last traded at $3.15. 3,422,213 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 34,812,352 shares. The stock had previously closed at $3.12.

Analysts Set New Price Targets

A number of research firms have commented on NYCB. Compass Point lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $8.00 in a report on Thursday, February 1st. Royal Bank of Canada lowered their price objective on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. JPMorgan Chase & Co. downgraded New York Community Bancorp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, Citigroup lowered 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 analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat.com, New York Community Bancorp currently has an average rating of “Hold” and a consensus target price of $5.43.

New York Community Bancorp Stock Down 3.8 %

The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The company has a market cap of $2.44 billion, a PE ratio of 0.92 and a beta of 0.91. The firm’s fifty day simple moving average is $3.58 and its 200-day simple moving average is $7.37.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results 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 net margin of 28.96% and a return on equity of 6.22%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, equities research analysts expect that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio is presently 6.01%.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, Chairman Alessandro Dinello bought 50,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $4.19 per share, for a total transaction of $209,500.00. Following the transaction, the chairman now directly owns 114,305 shares in the company, valued at $478,937.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Alessandro Dinello acquired 50,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.19 per share, with a total value of $209,500.00. Following the purchase, the chairman now directly owns 114,305 shares in the company, valued at approximately $478,937.95. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Schoels bought 100,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 213,410 shares of company stock worth $875,626. 1.62% of the stock is currently owned by company insiders.

Institutional Trading of New York Community Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of NYCB. International Assets Investment Management LLC raised its holdings in New York Community Bancorp by 1,237.8% during the fourth quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock valued at $47,324,000 after buying an additional 447,937 shares in the last quarter. Nordea Investment Management AB bought a new position in New York Community Bancorp during the fourth quarter valued at about $1,755,000. AQR Capital Management LLC raised its holdings in New York Community Bancorp by 212.7% during the third quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock valued at $22,444,000 after buying an additional 1,348,601 shares in the last quarter. Pacer Advisors Inc. raised its holdings in New York Community Bancorp by 79.2% during the fourth quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock valued at $1,111,000 after buying an additional 47,996 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in New York Community Bancorp by 7.9% during the fourth quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock valued at $1,773,000 after buying an additional 12,700 shares in the last quarter. 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.