New York Community Bancorp (NYSE:NYCB) Trading Up 1.7%

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) were up 1.7% on Monday . The stock traded as high as $3.68 and last traded at $3.59. Approximately 6,545,774 shares changed hands during trading, a decline of 81% from the average daily volume of 34,034,438 shares. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NYCB shares. Bank of America cut New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.50 to $5.00 in a research note on Wednesday, February 7th. JPMorgan Chase & Co. downgraded New York Community Bancorp from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $11.50 to $5.50 in a research note on Wednesday, February 7th. DA Davidson downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the company from $8.50 to $5.00 in a research note on Thursday, February 8th. Citigroup decreased their price target on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Finally, Morgan Stanley decreased their price target on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.39.

New York Community Bancorp Stock Performance

The firm has a fifty day moving average of $3.36 and a 200-day moving average of $6.97. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 359.00 and a beta of 0.95. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The company had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $776.81 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was down 76.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that New York Community Bancorp, Inc. will post -0.34 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be issued a $0.01 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.10%. New York Community Bancorp’s dividend payout ratio (DPR) is 2,000.00%.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, Director Marshall Lux acquired 27,100 shares of the stock in a transaction dated 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 transaction, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other New York Community Bancorp news, Director Marshall Lux acquired 27,100 shares of the stock in a transaction dated 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 transaction, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter Schoels acquired 100,000 shares of the 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. Insiders purchased a total of 213,410 shares of company stock valued at $875,626 over the last three months. 1.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp boosted its position in shares of New York Community Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 631,944 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 8,086 shares during the period. Carson Advisory Inc. purchased a new stake in shares of New York Community Bancorp in the first quarter worth about $62,000. Southern Capital Advisors LLC purchased a new stake in shares of New York Community Bancorp in the first quarter worth about $129,000. FinTrust Capital Advisors LLC boosted its position in shares of New York Community Bancorp by 66.9% in the first quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after buying an additional 3,876 shares during the period. Finally, Graypoint LLC purchased a new stake in shares of New York Community Bancorp in the first quarter worth about $35,000. 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.