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

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

Analyst Upgrades and Downgrades

NYCB has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their target price 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. Bank of America lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.50 to $5.00 in a research report on Wednesday, February 7th. Raymond James lowered New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Monday, March 18th. Compass Point lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $8.00 in a research report on Thursday, February 1st. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Stock Performance

The stock has a market capitalization of $2.44 billion, a P/E ratio of 0.92 and a beta of 0.91. The stock has a 50 day moving average of $3.58 and a 200 day moving average of $7.37. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18.

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 (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $935.90 million. During the same period in the previous year, the company posted $0.25 EPS. Equities analysts predict that New York Community Bancorp, Inc. will post -0.08 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 annualized dividend and a dividend yield of 6.54%. New York Community Bancorp’s payout ratio is 6.01%.

Insider Transactions at New York Community Bancorp

In other news, Director Marshall Lux bought 27,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average price of $3.69 per share, with a total value 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 approximately $239,377.68. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Alessandro Dinello bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the purchase, the chairman now directly owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Marshall Lux bought 27,100 shares of New York Community Bancorp stock in a transaction dated Thursday, March 21st. The shares were bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the completion of the acquisition, the director now owns 64,872 shares of the company’s stock, valued at $239,377.68. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 213,410 shares of company stock valued at $875,626. 1.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On New York Community Bancorp

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in New York Community Bancorp in the 4th quarter worth about $77,628,000. Wellington Management Group LLP lifted its stake in New York Community Bancorp by 7.5% in the 3rd 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 in the last quarter. Westfield Capital Management Co. LP lifted its stake in New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after acquiring an additional 3,114,070 shares in the last quarter. Goldman Sachs Group Inc. increased its position in New York Community Bancorp by 353.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock worth $28,953,000 after purchasing an additional 2,206,140 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in New York Community Bancorp by 187.4% in the 4th quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider’s stock worth $25,234,000 after purchasing an additional 1,608,267 shares during the last quarter. 67.88% of the stock is 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.