Royal Bank of Canada Trims New York Community Bancorp (NYSE:NYCB) Target Price to $4.00

New York Community Bancorp (NYSE:NYCB - Free Report) had its price objective cut by Royal Bank of Canada from $5.00 to $4.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the financial services provider's stock.

Several other research firms also recently weighed in on NYCB. Wedbush decreased their price target on shares of New York Community Bancorp from $3.50 to $3.00 and set an underperform rating for the company in a research note on Thursday, March 7th. Keefe, Bruyette & Woods downgraded shares of New York Community Bancorp from an outperform rating to a market perform rating and decreased their price target for the company from $14.00 to $12.00 in a research note on Monday, December 18th. Raymond James downgraded shares of New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 price target for the company. in a research note on Monday, March 18th. TheStreet downgraded shares of New York Community Bancorp from a b- rating to a c+ rating in a research note on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of New York Community Bancorp from a buy rating to a hold rating and reduced their price objective for the stock from $15.00 to $7.00 in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $5.43.

New York Community Bancorp Trading Down 2.1 %

Shares of NYSE:NYCB traded down $0.07 during trading hours on Tuesday, hitting $3.22. 13,008,704 shares of the company's stock traded hands, compared to its average volume of 37,610,137. New York Community Bancorp has a 1 year low of $1.70 and a 1 year high of $14.22. The business has a fifty day moving average price of $4.18 and a 200-day moving average price of $8.03. The firm has a market capitalization of $2.57 billion, a P/E ratio of 0.97, a price-to-earnings-growth ratio of 4.41 and a beta of 0.92. 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 - Get Free Report) last announced its 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 net margin of 28.96% and a return on equity of 6.22%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $935.90 million. During the same quarter last year, the firm earned $0.25 EPS. Equities analysts expect that New York Community Bancorp will post 0.07 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend was Tuesday, February 13th. 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, CEO Thomas R. Cangemi purchased 11,310 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Marshall Lux acquired 27,100 shares of the firm's stock in a transaction on Thursday, March 21st. The stock was acquired at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the transaction, the director now owns 64,872 shares in the company, valued at approximately $239,377.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 69,704 shares of the company's stock, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NYCB. Moody Lynn & Lieberson LLC raised its position in shares of New York Community Bancorp by 7.1% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 15,150 shares of the financial services provider's stock worth $155,000 after purchasing an additional 1,000 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in New York Community Bancorp by 5.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,282 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 1,118 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in New York Community Bancorp by 9.7% in the 1st quarter. Apollon Wealth Management LLC now owns 13,562 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 1,200 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in New York Community Bancorp by 3.5% in the 3rd quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider's stock valued at $406,000 after acquiring an additional 1,204 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in New York Community Bancorp by 7.2% in the 4th quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider's stock valued at $208,000 after acquiring an additional 1,371 shares during the last quarter. Institutional investors and hedge funds 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.