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

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) rose 0.3% during trading on Friday . The stock traded as high as $2.98 and last traded at $2.96. Approximately 2,293,983 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 35,402,668 shares. The stock had previously closed at $2.95.

Analysts Set New Price Targets

NYCB has been the subject of several analyst reports. Citigroup cut their target price on New York Community Bancorp from $5.00 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, March 7th. StockNews.com raised New York Community Bancorp to a "sell" rating in a report on Monday. Compass Point cut New York Community Bancorp from a "buy" rating to a "neutral" rating and lowered their price target for the company from $16.00 to $8.00 in a report on Thursday, February 1st. DA Davidson cut New York Community Bancorp from a "buy" rating to a "neutral" rating and lowered their price target for the company from $8.50 to $5.00 in a report on Thursday, February 8th. Finally, Jefferies Financial Group cut New York Community Bancorp from a "buy" rating to a "hold" rating and lowered their price target for the company from $13.00 to $7.00 in a report on Thursday, February 1st. 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.com, New York Community Bancorp presently has an average rating of "Hold" and an average target price of $5.43.

New York Community Bancorp Price Performance

The firm has a market capitalization of $2.36 billion, a PE ratio of 0.89 and a beta of 0.91. The stock has a 50 day simple moving average of $3.68 and a 200 day simple moving average of $7.56. 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 issued its quarterly earnings data 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 business had revenue of $1.59 billion during the quarter, compared to the consensus estimate 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 business posted $0.25 earnings per share. As a group, sell-side analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given 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 dividend yield of 6.77%. New York Community Bancorp's dividend payout ratio is currently 6.01%.

Insider Transactions at New York Community Bancorp

In other 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 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 directly owns 69,704 shares of the company's stock, valued at approximately $307,394.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 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 directly owns 69,704 shares of the company's stock, valued at approximately $307,394.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Schoels purchased 100,000 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the transaction, 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. In the last three months, insiders have acquired 213,410 shares of company stock worth $875,626. 1.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On New York Community Bancorp

Several hedge funds have recently made changes to their positions in the company. First Trust Direct Indexing L.P. purchased a new position in New York Community Bancorp during the first quarter valued at $47,000. Kovack Advisors Inc. raised its stake in New York Community Bancorp by 13.1% during the first quarter. Kovack Advisors Inc. now owns 57,553 shares of the financial services provider's stock valued at $185,000 after buying an additional 6,681 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in New York Community Bancorp by 36.0% during the first quarter. SeaCrest Wealth Management LLC now owns 27,711 shares of the financial services provider's stock valued at $89,000 after buying an additional 7,335 shares during the last quarter. Mirador Capital Partners LP purchased a new position in New York Community Bancorp during the first quarter valued at $358,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in New York Community Bancorp during the first quarter valued at $32,000. 67.88% of the stock is currently owned by institutional investors.

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.