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

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NYCB. Raymond James cut shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a research note on Monday, March 18th. Citigroup lowered their target price on 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. JPMorgan Chase & Co. cut New York Community Bancorp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.00 to $7.00 in a research report on Thursday, February 1st. Finally, StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a report on Monday. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat.com, New York Community Bancorp 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 debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm’s fifty day simple moving average is $3.77 and its 200 day simple moving average is $7.68. The firm has a market cap of $2.33 billion, a P/E ratio of 0.88, a P/E/G ratio of 32.38 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) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.56). The firm had revenue of $1.59 billion for 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 business earned $0.25 EPS.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s payout ratio is 6.01%.

Insider Buying and Selling at New York Community Bancorp

In related news, EVP Lee Matthew Smith purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the transaction, the executive vice president now owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Marshall Lux acquired 27,100 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were acquired at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the transaction, the director now directly owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lee Matthew Smith bought 25,000 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $4.05 per share, with a total value of $101,250.00. Following the acquisition, the executive vice president now directly owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The disclosure for this purchase can be found here. Insiders acquired 213,410 shares of company stock worth $875,626 over the last 90 days. 1.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in New York Community Bancorp by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after acquiring an additional 4,723,876 shares during the period. Vanguard Group Inc. grew its holdings in shares of New York Community Bancorp by 1.0% in the third quarter. Vanguard Group Inc. now owns 44,302,719 shares of the financial services provider’s stock worth $377,902,000 after purchasing an additional 444,458 shares during the last quarter. State Street Corp increased its stake in New York Community Bancorp by 61.4% in the 1st quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock worth $319,548,000 after buying an additional 13,450,558 shares during the period. Geode Capital Management LLC grew its stake in New York Community Bancorp by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 9,577,580 shares of the financial services provider’s stock worth $86,581,000 after acquiring an additional 336,233 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its holdings in shares of New York Community Bancorp by 30.0% in the first quarter. Brandywine Global Investment Management LLC now owns 7,932,246 shares of the financial services provider’s stock valued at $71,708,000 after purchasing an additional 1,829,923 shares during the period. Hedge funds and other institutional investors 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.