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

New York Community Bancorp, Inc. (NYSE:NYCB) shot up 0.3% during trading on Friday . The stock traded as high as $2.98 and last traded at $2.96. 2,293,983 shares were traded during mid-day trading, a decline of 94% from the average session volume of 35,402,668 shares. The stock had previously closed at $2.95.

Wall Street Analyst Weigh In

Several brokerages have commented on NYCB. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Monday. Jefferies Financial Group downgraded New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price target for the company from $13.00 to $7.00 in a research report on Thursday, February 1st. Bank of America downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.50 to $5.00 in a research report on Wednesday, February 7th. Compass Point downgraded 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, TheStreet downgraded New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.43.

New York Community Bancorp Stock Up 0.3 %

The stock has a market capitalization of $2.36 billion, a PE ratio of 0.89 and a beta of 0.91. The company has a 50 day moving average price of $3.72 and a 200-day moving average price of $7.61. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17.

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). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $935.90 million. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share 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. Investors 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 yield of 6.76%. New York Community Bancorp’s payout ratio is 6.01%.

Insiders Place Their Bets

In other New York Community Bancorp news, Director Marshall Lux purchased 27,100 shares of the stock in a transaction dated Thursday, March 21st. The shares were purchased 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 directly owns 64,872 shares in the company, valued at approximately $239,377.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other New York Community Bancorp news, Director Marshall Lux purchased 27,100 shares of the stock in a transaction dated Thursday, March 21st. The shares were purchased 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 directly owns 64,872 shares in the company, valued at approximately $239,377.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lee Matthew Smith acquired 25,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $4.05 per share, with a total value of $101,250.00. Following the transaction, the executive vice president now owns 1,440,683 shares of the company’s stock, valued at approximately $5,834,766.15. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is currently owned by corporate insiders.

Institutional Trading of New York Community Bancorp

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in New York Community Bancorp by 1,237.8% in the fourth quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock worth $47,324,000 after buying an additional 447,937 shares in the last quarter. Nordea Investment Management AB bought a new position in New York Community Bancorp during the fourth quarter valued at approximately $1,755,000. AQR Capital Management LLC lifted its stake in shares of New York Community Bancorp by 212.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock valued at $22,444,000 after purchasing an additional 1,348,601 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of New York Community Bancorp by 79.2% in the 4th quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of New York Community Bancorp by 7.9% during the 4th quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock worth $1,773,000 after acquiring an additional 12,700 shares during the last quarter. 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.