New York Community Bancorp (NYSE:NYCB) Trading Up 1.9%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) shot up 1.9% during mid-day trading on Tuesday . The company traded as high as $3.72 and last traded at $3.72. 5,295,813 shares traded hands during trading, a decline of 84% from the average session volume of 33,829,363 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of New York Community Bancorp from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. 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. Piper Sandler upgraded shares of New York Community Bancorp from a "neutral" rating to an "overweight" rating and set a $4.00 target price for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut shares of New York Community Bancorp from a "buy" rating to a "hold" rating and reduced their target price for the company from $15.00 to $7.00 in a research report on Friday, February 2nd. Finally, DA Davidson cut shares of New York Community Bancorp from a "buy" rating to a "neutral" rating and reduced their target price for the company from $8.50 to $5.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.39.

New York Community Bancorp Trading Up 0.5 %

The company's 50 day moving average price is $3.32 and its 200 day moving average price is $6.88. The firm has a market cap of $2.93 billion, a PE ratio of 367.00 and a beta of 0.95. 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 issued its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. The firm had revenue of $633.00 million for the quarter, compared to analysts' expectations of $776.81 million. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.78%. The firm's revenue was down 76.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. As a group, analysts forecast that New York Community Bancorp, Inc. will post -0.34 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 dividend on an annualized basis and a yield of 1.09%. New York Community Bancorp's payout ratio is currently 2,000.00%.

Insiders Place Their Bets

In other New York Community Bancorp news, Director Peter Schoels bought 100,000 shares of the business's stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now directly owns 147,438 shares of the company's stock, valued at approximately $611,867.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other New York Community Bancorp news, EVP Lee Matthew Smith bought 25,000 shares of the business's stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.05 per share, with a total value of $101,250.00. Following the acquisition, the executive vice president now directly owns 1,440,683 shares of the company's stock, valued at approximately $5,834,766.15. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Schoels bought 100,000 shares of the business's stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the acquisition, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently added to or reduced their stakes in NYCB. Wellington Management Group LLP boosted its stake in shares of New York Community Bancorp by 7.5% during the 3rd 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. Norges Bank purchased a new stake in shares of New York Community Bancorp during the 4th quarter worth approximately $77,628,000. Westfield Capital Management Co. LP raised its position in shares of New York Community Bancorp by 154.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider's stock worth $58,242,000 after purchasing an additional 3,114,070 shares during the last quarter. Cannell & Co. raised its position in shares of New York Community Bancorp by 12.3% during the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider's stock worth $46,793,000 after purchasing an additional 500,545 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of New York Community Bancorp by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider's stock worth $46,579,000 after purchasing an additional 33,122 shares during the last quarter. Hedge funds and other 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.