New York Community Bancorp (NYSE:NYCB) Trading Down 1.6%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price fell 1.6% on Thursday . The company traded as low as $2.97 and last traded at $3.01. 2,511,889 shares were traded during mid-day trading, a decline of 93% from the average session volume of 34,249,082 shares. The stock had previously closed at $3.06.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NYCB. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.00 to $7.00 in a research note on Thursday, February 1st. DA Davidson lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.50 to $5.00 in a research note on Thursday, February 8th. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research note on Monday, April 15th. Piper Sandler reiterated a “neutral” rating and issued a $5.00 target price (down previously from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. Finally, Citigroup lowered their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 7th. Three analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Price Performance

The business’s fifty day moving average is $3.51 and its 200-day moving average is $7.29. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The firm has a market cap of $2.36 billion, a PE ratio of 0.89 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB) last posted its 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 business 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 quarter in the previous year, the business earned $0.25 EPS. On average, research 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 announced 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 was Tuesday, February 13th. This represents a $0.20 annualized dividend and a dividend yield of 6.76%. New York Community Bancorp’s payout ratio is 6.01%.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the purchase, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Lee Matthew Smith acquired 25,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the transaction, the executive vice president now owns 1,440,683 shares of the company’s stock, valued at $5,834,766.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders acquired 213,410 shares of company stock worth $875,626 over the last quarter. Corporate insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On New York Community Bancorp

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of 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 valued at $47,324,000 after acquiring an additional 447,937 shares during the period. Nordea Investment Management AB bought a new stake in New York Community Bancorp during the fourth quarter valued at approximately $1,755,000. AQR Capital Management LLC lifted its position in New York Community Bancorp by 212.7% during the third 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 position in New York Community Bancorp by 79.2% during the fourth 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 position in New York Community Bancorp by 7.9% during the fourth quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock valued at $1,773,000 after purchasing an additional 12,700 shares during 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.