New York Community Bancorp (NYSE:NYCB) Trading Down 2.4% Following Analyst Downgrade

Shares of New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) fell 2.4% on Tuesday after Royal Bank of Canada lowered their price target on the stock from $5.00 to $4.00. Royal Bank of Canada currently has a sector perform rating on the stock. New York Community Bancorp traded as low as $3.19 and last traded at $3.21. 4,836,223 shares were traded during trading, a decline of 87% from the average session volume of 37,461,707 shares. The stock had previously closed at $3.29.

NYCB has been the topic of a number of other reports. Raymond James lowered New York Community Bancorp from a "market perform" rating to an "underperform" rating and set a $3.00 price target on the stock. in a report on Monday, March 18th. Citigroup cut their price target on New York Community Bancorp from $5.00 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, March 7th. Piper Sandler restated a "neutral" rating and issued a $5.00 price target (down from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. Jefferies Financial Group lowered New York Community Bancorp from a "buy" rating to a "hold" rating and dropped their target price for the stock from $13.00 to $7.00 in a report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft lowered New York Community Bancorp from a "buy" rating to a "hold" rating and dropped their target price for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, New York Community Bancorp has a consensus rating of "Hold" and a consensus price target of $5.43.

Insider Buying and Selling

In related news, Chairman Alessandro Dinello purchased 50,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the transaction, the chairman now directly owns 114,305 shares of the company's stock, valued at approximately $478,937.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Marshall Lux purchased 27,100 shares of the company's stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the purchase, the director now owns 64,872 shares of the company's stock, valued at $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alessandro Dinello purchased 50,000 shares of the company's stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the purchase, the chairman now directly owns 114,305 shares in the company, valued at approximately $478,937.95. The disclosure for this purchase can be found here. Insiders have purchased 213,410 shares of company stock valued at $875,626 over the last 90 days. 1.62% of the stock is owned by corporate insiders.

Institutional Trading of New York Community Bancorp

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of New York Community Bancorp by 7.5% in 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 purchasing an additional 4,723,876 shares during the period. Vanguard Group Inc. lifted its stake in New York Community Bancorp by 1.0% in the third quarter. Vanguard Group Inc. now owns 44,302,719 shares of the financial services provider's stock worth $377,902,000 after purchasing an additional 444,458 shares during the last quarter. State Street Corp raised 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 acquiring an additional 13,450,558 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of New York Community Bancorp by 3.6% during the first 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 last quarter. Finally, Brandywine Global Investment Management LLC increased its position in shares of New York Community Bancorp by 30.0% during the first 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 buying an additional 1,829,923 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

New York Community Bancorp Price Performance

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 firm's 50-day moving average is $4.18 and its 200-day moving average is $8.03. The company has a market cap of $2.57 billion, a PE ratio of 0.97, a PEG ratio of 4.41 and a beta of 0.92.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last announced its quarterly earnings results 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). New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. During the same period last year, the business earned $0.25 EPS. On average, equities analysts anticipate that New York Community Bancorp, Inc. will post 0.07 EPS 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. Investors of record on Wednesday, February 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp's dividend payout ratio (DPR) is 6.01%.

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.