New York Community Bancorp (NYSE:NYCB) Stock Price Down 1.6%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report)'s stock price fell 1.6% during mid-day trading on Thursday . The stock traded as low as $2.97 and last traded at $3.01. 2,511,889 shares changed hands during trading, a decline of 93% from the average session volume of 34,249,082 shares. The stock had previously closed at $3.06.

Analysts Set New Price Targets

Several research analysts recently weighed in on NYCB shares. Royal Bank of Canada cut their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 9th. TheStreet downgraded shares of New York Community Bancorp from a "b-" rating to a "c+" rating in a research note on Monday, February 5th. Barclays started coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They issued an "equal weight" rating and a $4.00 target price for the company. Morgan Stanley cut their target price 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. Finally, Bank of America downgraded shares of New York Community Bancorp from a "buy" rating to a "neutral" rating and cut their target price for the company from $8.50 to $5.00 in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $5.43.

New York Community Bancorp Stock Up 0.5 %

The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm has a market cap of $2.45 billion, a PE ratio of 0.90 and a beta of 0.91. The stock has a fifty day moving average price of $3.58 and a 200-day moving average price of $7.37.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last issued its 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 firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $935.90 million. During the same quarter in the previous year, the firm posted $0.25 EPS. Research analysts expect that New York Community Bancorp, Inc. will post -0.08 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. 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 was Tuesday, February 13th. New York Community Bancorp's payout ratio is currently 6.01%.

Insiders Place Their Bets

In related news, Director Marshall Lux purchased 27,100 shares of the firm's stock in a transaction 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 acquisition, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Marshall Lux purchased 27,100 shares of the firm's stock in a transaction 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 acquisition, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Matthew Smith purchased 25,000 shares of the firm's stock in a transaction on Friday, February 9th. The stock was bought at an average price of $4.05 per share, with a total value of $101,250.00. Following the acquisition, the executive vice president now owns 1,440,683 shares in the company, valued at $5,834,766.15. The disclosure for this purchase can be found here. Insiders purchased a total of 213,410 shares of company stock worth $875,626 in the last 90 days. 1.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On New York Community Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in NYCB. Norges Bank purchased a new position in shares of New York Community Bancorp during the 4th quarter valued at approximately $77,628,000. Wellington Management Group LLP raised its position 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 valued at $767,366,000 after acquiring an additional 4,723,876 shares in the last quarter. 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 valued at $58,242,000 after acquiring an additional 3,114,070 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of New York Community Bancorp by 353.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider's stock valued at $28,953,000 after acquiring an additional 2,206,140 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of New York Community Bancorp by 187.4% during the 4th quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider's stock valued at $25,234,000 after acquiring an additional 1,608,267 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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