New York Community Bancorp (NYSE:NYCB) Shares Up 5.2%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report)'s share price rose 5.2% on Wednesday . The stock traded as high as $3.24 and last traded at $3.23. Approximately 9,183,693 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 38,785,965 shares. The stock had previously closed at $3.07.

Analysts Set New Price Targets

NYCB has been the topic of several research analyst reports. TheStreet cut shares of New York Community Bancorp from a "b-" rating to a "c+" rating in a report on Monday, February 5th. DA Davidson cut shares of New York Community Bancorp from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $8.50 to $5.00 in a report on Thursday, February 8th. JPMorgan Chase & Co. cut shares of New York Community Bancorp from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $11.50 to $5.50 in a report on Wednesday, February 7th. Morgan Stanley reduced their target price on New York Community Bancorp from $6.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 7th. Finally, Raymond James cut New York Community Bancorp from a "market perform" rating to an "underperform" rating and set a $3.00 target price on the stock. in a research note on Monday, March 18th. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.64.

New York Community Bancorp Trading Up 6.0 %

The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The stock's fifty day moving average price is $4.61 and its two-hundred day moving average price is $8.23. The company has a market capitalization of $2.60 billion, a PE ratio of 0.98, a price-to-earnings-growth ratio of 2.21 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last posted its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.56). The firm had revenue of $1.59 billion for 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 prior year, the company posted $0.25 earnings per share. Sell-side analysts anticipate that New York Community Bancorp, Inc. will post 0.15 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The company also recently announced 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. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.14%. New York Community Bancorp's dividend payout ratio is currently 6.01%.

Insider Transactions at New York Community Bancorp

In related news, Director Marshall Lux acquired 27,100 shares of the stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the acquisition, the director now directly owns 64,872 shares of the company's stock, valued at approximately $239,377.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Marshall Lux acquired 27,100 shares of the stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the acquisition, the director now directly owns 64,872 shares of the company's stock, valued at approximately $239,377.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Schoels acquired 100,000 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average price of $4.15 per share, with a total value of $415,000.00. Following the completion of the acquisition, the director now directly owns 147,438 shares of the company's stock, valued at $611,867.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 213,410 shares of company stock worth $875,626. Company insiders own 1.62% of the company's stock.

Hedge Funds Weigh In On New York Community Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in NYCB. State Street Corp increased its stake in shares of New York Community Bancorp by 61.4% during the first quarter. State Street Corp now owns 35,348,227 shares of the financial services provider's stock valued at $319,548,000 after purchasing an additional 13,450,558 shares in the last quarter. Norges Bank bought a new stake in shares of New York Community Bancorp during the fourth quarter valued at approximately $77,628,000. Balyasny Asset Management L.P. bought a new stake in shares of New York Community Bancorp during the first quarter valued at approximately $55,839,000. Wellington Management Group LLP increased its position in shares of New York Community Bancorp by 7.5% during the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider's stock valued at $767,366,000 after acquiring an additional 4,723,876 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of New York Community Bancorp by 154.0% during the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider's stock valued at $58,242,000 after acquiring an additional 3,114,070 shares in the last quarter. 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.