New York Community Bancorp (NYSE:NYCB) Trading Down 4.1%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price fell 4.1% on Wednesday . The company traded as low as $3.03 and last traded at $3.05. 3,372,502 shares were traded during trading, a decline of 90% from the average session volume of 34,535,906 shares. The stock had previously closed at $3.18.

Analyst Ratings Changes

A number of research firms have weighed in on NYCB. Deutsche Bank Aktiengesellschaft lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $7.00 in a research note on Friday, February 2nd. Compass Point lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $8.00 in a research note on Thursday, February 1st. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.00 to $7.00 in a research note on Thursday, February 1st. Citigroup reduced their price objective on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Finally, Piper Sandler restated a “neutral” rating and set a $5.00 price objective (down from $8.00) on shares of New York Community Bancorp in a research note on Friday, March 1st. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Stock Performance

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 0.90 and a beta of 0.91. The business’s fifty day moving average is $3.61 and its 200-day moving average is $7.40.

New York Community Bancorp (NYSE:NYCB) last issued 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). New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. During the same period in the prior year, the firm earned $0.25 EPS. As a group, research analysts predict that New York Community Bancorp, Inc. will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently declared 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 annualized dividend and a yield of 6.54%. The ex-dividend date 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, Director Peter Schoels bought 100,000 shares of the stock in a transaction dated 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 owns 147,438 shares of the company’s stock, valued at $611,867.70. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the transaction, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Schoels purchased 100,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the transaction, 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. Insiders have bought 213,410 shares of company stock valued at $875,626 over the last 90 days. 1.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On New York Community Bancorp

Several large investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its position 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 acquiring an additional 447,937 shares during the last quarter. Nordea Investment Management AB bought a new position in New York Community Bancorp during the fourth quarter valued at $1,755,000. AQR Capital Management LLC increased its position 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 acquiring an additional 1,348,601 shares during the last quarter. Pacer Advisors Inc. increased its position 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 acquiring an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System increased its position 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 acquiring an additional 12,700 shares during the last quarter. 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.