New York Community Bancorp (NYSE:NYCB) Stock Price Down 4.2%

New York Community Bancorp, Inc. (NYSE:NYCB) shares fell 4.2% on Monday . The company traded as low as $3.38 and last traded at $3.39. 7,067,560 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 40,124,043 shares. The stock had previously closed at $3.54.

Analyst Ratings Changes

NYCB has been the subject of a number of analyst reports. Barclays started coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price objective for the company. Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their price target for the company from $13.00 to $7.00 in a report on Thursday, February 1st. TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Deutsche Bank Aktiengesellschaft downgraded New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $7.00 in a research note on Friday, February 2nd. Finally, Wedbush cut their price objective on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.64.

New York Community Bancorp Trading Down 3.8 %

The stock’s fifty day simple moving average is $5.43 and its 200-day simple moving average is $8.56. 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 firm has a market cap of $2.56 billion, a PE ratio of 0.96, a PEG ratio of 2.06 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last issued 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 firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.25 EPS. On average, sell-side analysts forecast that New York Community Bancorp, Inc. will post 0.16 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio is currently 6.01%.

Insider Buying and Selling at New York Community Bancorp

In related news, EVP Lee Matthew Smith bought 25,000 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the executive vice president now directly owns 1,440,683 shares of the company’s stock, valued at $5,834,766.15. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Lee Matthew Smith bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the purchase, the executive vice president now directly owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Schoels purchased 100,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $4.15 per share, for a total transaction 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 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.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in New York Community Bancorp by 61.4% during the first quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock worth $319,548,000 after purchasing an additional 13,450,558 shares in the last quarter. Norges Bank acquired a new stake in New York Community Bancorp in the 4th quarter valued at $77,628,000. Balyasny Asset Management L.P. purchased a new stake in New York Community Bancorp in the 1st quarter worth $55,839,000. Wellington Management Group LLP raised its position in New York Community Bancorp by 7.5% during the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after acquiring an additional 4,723,876 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in New York Community Bancorp by 154.0% during the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock valued at $58,242,000 after purchasing an additional 3,114,070 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.