New York Community Bancorp (NYSE:NYCB) Trading Down 2.8%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) fell 2.8% on Tuesday . The company traded as low as $3.10 and last traded at $3.12. 5,742,839 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 38,973,961 shares. The stock had previously closed at $3.21.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NYCB. Royal Bank of Canada lowered New York Community Bancorp from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Barclays began coverage on New York Community Bancorp in a report on Friday, March 8th. They set an "equal weight" rating and a $4.00 price objective on the stock. Piper Sandler reissued a "neutral" rating and set a $5.00 price objective (down from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. Compass Point cut shares of New York Community Bancorp from a "buy" rating to a "neutral" rating and reduced their price target for the company from $16.00 to $8.00 in a research report on Thursday, February 1st. Finally, StockNews.com downgraded shares of New York Community Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, February 1st. Three investment 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.64.

New York Community Bancorp Trading Down 4.2 %

The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The firm's 50 day moving average is $4.75 and its 200 day moving average is $8.26. The company has a market capitalization of $2.45 billion, a PE ratio of 0.92, a P/E/G ratio of 2.22 and a beta of 0.92.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.56). The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations 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 firm posted $0.25 earnings per share. As a group, equities analysts predict that New York Community Bancorp, Inc. will post 0.15 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.50%. 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 Activity

In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of the company's stock in a transaction dated 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 acquisition, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The purchase was disclosed in a filing with the SEC, which is available at this link. 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 price of $4.41 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marshall Lux purchased 27,100 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the purchase, the director now owns 64,872 shares in the company, valued at $239,377.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 213,410 shares of company stock worth $875,626. Corporate insiders own 1.62% of the company's stock.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in 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 valued at $767,366,000 after acquiring an additional 4,723,876 shares during the period. Vanguard Group Inc. lifted its stake in New York Community Bancorp by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,302,719 shares of the financial services provider's stock valued at $377,902,000 after acquiring an additional 444,458 shares during the period. State Street Corp lifted its stake in New York Community Bancorp by 61.4% during 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 acquiring an additional 13,450,558 shares during the period. Geode Capital Management LLC lifted its stake in New York Community Bancorp by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 9,577,580 shares of the financial services provider's stock valued at $86,581,000 after acquiring an additional 336,233 shares during the period. Finally, Brandywine Global Investment Management LLC lifted its stake in New York Community Bancorp by 30.0% during the 1st quarter. Brandywine Global Investment Management LLC now owns 7,932,246 shares of the financial services provider's stock valued at $71,708,000 after acquiring an additional 1,829,923 shares during the period. Institutional investors own 67.88% of the company's stock.

About New York Community Bancorp

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.