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

Shares of New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) traded down 2.4% on Thursday . The company traded as low as $2.84 and last traded at $2.89. 9,445,488 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 37,160,445 shares. The stock had previously closed at $2.96.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays assumed coverage on New York Community Bancorp in a research report on Friday, March 8th. They issued an "equal weight" rating and a $4.00 price target for the company. Deutsche Bank Aktiengesellschaft cut New York Community Bancorp from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $15.00 to $7.00 in a research report on Friday, February 2nd. JPMorgan Chase & Co. cut New York Community Bancorp from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. Raymond James cut New York Community Bancorp from a "market perform" rating to an "underperform" rating and set a $3.00 price objective for the company. in a research report on Monday, March 18th. Finally, Wedbush dropped their price objective on New York Community Bancorp from $3.50 to $3.00 and set an "underperform" rating for the company in a research report on Thursday, March 7th. Three analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $5.43.

New York Community Bancorp Trading Up 1.2 %

The business has a 50 day simple moving average of $3.97 and a 200-day simple moving average of $7.94. 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 capitalization of $2.39 billion, a price-to-earnings ratio of 0.90, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last issued its quarterly earnings results 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). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. During the same period in the previous year, the business posted $0.25 earnings per share. On average, equities analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp's dividend payout ratio is currently 6.01%.

Insider Activity

In other news, EVP Lee Matthew Smith acquired 25,000 shares of New York Community Bancorp 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 purchase, the executive vice president now directly owns 1,440,683 shares of the company's stock, valued at approximately $5,834,766.15. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Thomas R. Cangemi acquired 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the purchase, 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 SEC, which can be accessed through this link. Also, EVP Lee Matthew Smith acquired 25,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the executive vice president now directly owns 1,440,683 shares in the company, valued at $5,834,766.15. The disclosure for this purchase can be found here. Insiders have bought 213,410 shares of company stock valued at $875,626 in the last three months. Corporate insiders own 1.62% of the company's stock.

Institutional Investors Weigh In On New York Community Bancorp

Several hedge funds have recently modified their holdings of NYCB. Versant Capital Management Inc raised its holdings in shares of New York Community Bancorp by 3,583.0% during the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider's stock valued at $27,000 after buying an additional 8,026 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of New York Community Bancorp during the 2nd quarter valued at about $27,000. Orion Capital Management LLC purchased a new stake in shares of New York Community Bancorp during the 3rd quarter valued at about $28,000. Loomis Sayles & Co. L P purchased a new stake in shares of New York Community Bancorp during the 3rd quarter valued at about $29,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of New York Community Bancorp during the 4th quarter valued at about $29,000. 67.88% of the stock is currently owned by hedge funds and other 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.