New York Community Bancorp (NYSE:NYCB) Upgraded at StockNews.com

StockNews.com upgraded shares of New York Community Bancorp (NYSE:NYCB) to a sell rating in a research note released on Monday morning.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group lowered New York Community Bancorp from a buy rating to a hold rating and dropped their target price for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. Piper Sandler reaffirmed a neutral rating and issued a $5.00 target price (down from $8.00) on shares of New York Community Bancorp in a research report on Friday, March 1st. Citigroup dropped 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. DA Davidson lowered New York Community Bancorp from a buy rating to a neutral rating and dropped their target price for the stock from $8.50 to $5.00 in a research report on Thursday, February 8th. Finally, Compass Point lowered New York Community Bancorp from a buy rating to a neutral rating and dropped their target price for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to MarketBeat.com, New York Community Bancorp has a consensus rating of Hold and a consensus target price of $5.43.

New York Community Bancorp Stock Performance

NYCB stock opened at $2.97 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The firm has a market cap of $2.37 billion, a P/E ratio of 0.89, a P/E/G ratio of 32.38 and a beta of 0.91. New York Community Bancorp has a 12-month low of $1.70 and a 12-month high of $14.22. The stock’s 50 day simple moving average is $3.74 and its 200 day simple moving average is $7.65.

New York Community Bancorp (NYSE:NYCB) last posted 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). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.25 earnings per share.

New York Community Bancorp Cuts Dividend

The company also recently announced 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. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 annualized dividend and a yield of 6.73%. New York Community Bancorp’s dividend payout ratio is currently 6.01%.

Insider Activity 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 related news, Director Marshall Lux purchased 27,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of $3.69 per share, with a total value of $99,999.00. Following the purchase, the director now 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders 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

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position 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 worth $767,366,000 after acquiring an additional 4,723,876 shares during the period. Vanguard Group Inc. boosted its position in New York Community Bancorp by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,302,719 shares of the financial services provider’s stock worth $377,902,000 after acquiring an additional 444,458 shares during the period. State Street Corp boosted its position in New York Community Bancorp by 61.4% during the 1st quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock worth $319,548,000 after acquiring an additional 13,450,558 shares during the period. Geode Capital Management LLC boosted its position in New York Community Bancorp by 3.6% during 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 during the period. Finally, Brandywine Global Investment Management LLC boosted its position in New York Community Bancorp by 30.0% during the 1st quarter. Brandywine Global Investment Management LLC now owns 7,932,246 shares of the financial services provider’s stock worth $71,708,000 after acquiring an additional 1,829,923 shares during the period. 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.