New York Community Bancorp (NYSE:NYCB) Stock Price Up 3.7%

New York Community Bancorp, Inc. (NYSE:NYCB) shares rose 3.7% during trading on Monday . The stock traded as high as $3.08 and last traded at $3.06. Approximately 3,379,451 shares changed hands during trading, a decline of 90% from the average daily volume of 35,108,352 shares. The stock had previously closed at $2.95.

Analyst Upgrades and Downgrades

NYCB has been the subject of several recent research reports. Bank of America cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.50 to $5.00 in a report on Wednesday, February 7th. Raymond James cut shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 target price for the company. in a report on Monday, March 18th. JPMorgan Chase & Co. cut shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the company from $11.50 to $5.50 in a research note on Wednesday, February 7th. DA Davidson cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.50 to $5.00 in a research note on Thursday, February 8th. Finally, Morgan Stanley cut their price target on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Three research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.43.

New York Community Bancorp Trading Up 2.1 %

The business’s 50 day moving average price is $3.61 and its two-hundred day moving average price is $7.40. 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 company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 0.96 and a beta of 0.91.

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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. During the same quarter in the previous year, the business posted $0.25 EPS. On average, equities analysts predict 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 6.28%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Buying and Selling at New York Community Bancorp

In other New York Community Bancorp news, Chairman Alessandro Dinello purchased 50,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $4.19 per share, for a total transaction of $209,500.00. Following the purchase, the chairman now owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Thomas R. Cangemi acquired 11,310 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost 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 in the company, valued at $307,394.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alessandro Dinello acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $4.19 per share, for a total transaction of $209,500.00. Following the completion of the transaction, the chairman now owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 213,410 shares of company stock worth $875,626. 1.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in New York Community Bancorp in the fourth quarter worth approximately $77,628,000. Wellington Management Group LLP boosted its stake in New York Community Bancorp by 7.5% in the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after buying an additional 4,723,876 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in New York Community Bancorp by 154.0% in the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after buying an additional 3,114,070 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in New York Community Bancorp by 353.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock worth $28,953,000 after buying an additional 2,206,140 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in New York Community Bancorp by 187.4% in the fourth quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider’s stock worth $25,234,000 after buying an additional 1,608,267 shares in the last quarter. 67.88% of the stock is currently owned by 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.