New York Community Bancorp (NYSE:NYCB) Shares Down 5% Following Analyst Downgrade

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) was down 5% during mid-day trading on Wednesday 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 $3.03 and last traded at $3.06. Approximately 8,881,872 shares traded hands during trading, a decline of 76% from the average daily volume of 37,188,023 shares. The stock had previously closed at $3.22.

Other analysts have also issued research reports about the stock. Wedbush decreased their price target on shares of New York Community Bancorp from $3.50 to $3.00 and set an "underperform" rating on the stock in a report on Thursday, March 7th. StockNews.com cut shares of New York Community Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, February 1st. Morgan Stanley lowered their price objective on shares of New York Community Bancorp from $6.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, March 7th. Jefferies Financial Group cut shares of New York Community Bancorp from a "buy" rating to a "hold" rating and lowered their price objective for the company from $13.00 to $7.00 in a research note on Thursday, February 1st. Finally, Citigroup lowered their price objective on shares of 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. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat.com, New York Community Bancorp presently has a consensus rating of "Hold" and a consensus price target of $5.43.

Insider Buying and Selling

In other news, Chairman Alessandro Dinello acquired 50,000 shares of the business's stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.19 per share, for a total transaction of $209,500.00. Following the acquisition, the chairman now directly owns 114,305 shares of the company's stock, valued at approximately $478,937.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Lee Matthew Smith acquired 25,000 shares of the business's stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.05 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alessandro Dinello bought 50,000 shares of the business's stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $4.19 per share, for a total transaction of $209,500.00. Following the purchase, the chairman now owns 114,305 shares in the company, valued at approximately $478,937.95. The disclosure for this purchase can be found here. In the last three months, insiders acquired 213,410 shares of company stock valued at $875,626. Company insiders own 1.62% of the company's stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently modified their holdings of the stock. Moody Lynn & Lieberson LLC raised its stake in New York Community Bancorp by 7.1% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 15,150 shares of the financial services provider's stock worth $155,000 after acquiring an additional 1,000 shares during the period. Kestra Private Wealth Services LLC raised its stake in New York Community Bancorp by 5.0% during the third quarter. Kestra Private Wealth Services LLC now owns 23,282 shares of the financial services provider's stock worth $264,000 after acquiring an additional 1,118 shares during the period. Apollon Wealth Management LLC raised its stake in New York Community Bancorp by 9.7% during the first quarter. Apollon Wealth Management LLC now owns 13,562 shares of the financial services provider's stock worth $123,000 after acquiring an additional 1,200 shares during the period. Avantax Advisory Services Inc. grew its position in New York Community Bancorp by 3.5% in the 3rd quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider's stock worth $406,000 after purchasing an additional 1,204 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in New York Community Bancorp by 7.2% in the 4th quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider's stock worth $208,000 after purchasing an additional 1,371 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

New York Community Bancorp Trading Down 8.1 %

The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The stock has a market cap of $2.36 billion, a P/E ratio of 0.89, a PEG ratio of 4.65 and a beta of 0.91. The firm's 50-day simple moving average is $4.04 and its 200 day simple moving average is $7.97.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last posted its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $935.90 million. During the same quarter last year, the company posted $0.25 EPS. As a group, equities research analysts anticipate that New York Community Bancorp, Inc. will post 0.07 earnings per share 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. Shareholders of record on Wednesday, February 14th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend 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.