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

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report)'s stock price rose 0.3% during mid-day trading on Wednesday . The company traded as high as $2.95 and last traded at $2.92. Approximately 10,803,152 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 21,008,084 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

NYCB has been the topic of several recent research reports. Royal Bank of Canada cut their price target on New York Community Bancorp from $5.00 to $4.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. downgraded 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 research note on Wednesday, February 7th. Compass Point downgraded shares of New York Community Bancorp from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $16.00 to $8.00 in a research report on Thursday, February 1st. UBS Group cut shares of New York Community Bancorp from a "buy" rating to a "neutral" rating in a research report on Monday, January 8th. Finally, TheStreet lowered New York Community Bancorp from a "b-" rating to a "c+" rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.43.

New York Community Bancorp Stock Up 1.7 %

The stock has a market cap of $2.37 billion, a PE ratio of 0.89, a P/E/G ratio of 32.38 and a beta of 0.91. The business has a 50 day moving average of $3.74 and a 200-day moving average of $7.65. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period in the previous year, the company posted $0.25 earnings per share.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders 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 dividend on an annualized basis and a yield of 6.73%. New York Community Bancorp's dividend payout ratio is presently 6.01%.

Insider Activity

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the transaction, the chief executive officer now directly owns 69,704 shares of the company's stock, valued at approximately $307,394.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Marshall Lux acquired 27,100 shares of the business's stock in a transaction on Thursday, March 21st. The stock was bought at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the transaction, the director now owns 64,872 shares in the company, valued at $239,377.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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, with a total value of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 213,410 shares of company stock valued at $875,626. Insiders own 1.62% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its holdings in New York Community Bancorp by 61.4% in the 1st 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 acquired a new position in New York Community Bancorp during the fourth quarter worth $77,628,000. Balyasny Asset Management L.P. acquired a new position in New York Community Bancorp during the first quarter worth $55,839,000. Wellington Management Group LLP raised its position 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 acquiring an additional 4,723,876 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings 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 valued at $58,242,000 after acquiring an additional 3,114,070 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.