New York Community Bancorp (NYSE:NYCB) Shares Down 2.6%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) traded down 2.6% during trading on Friday . The company traded as low as $2.98 and last traded at $2.99. 3,193,082 shares were traded during mid-day trading, a decline of 91% from the average session volume of 33,958,441 shares. The stock had previously closed at $3.07.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NYCB. Deutsche Bank Aktiengesellschaft cut shares of New York Community Bancorp from a "buy" rating to a "hold" rating and cut their price objective for the stock from $15.00 to $7.00 in a research report on Friday, February 2nd. DA Davidson cut shares of New York Community Bancorp from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $8.50 to $5.00 in a research report on Thursday, February 8th. Citigroup cut 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 report on Thursday, March 7th. StockNews.com upgraded shares of New York Community Bancorp to a "sell" rating in a research report on Monday, April 15th. Finally, Barclays assumed coverage on shares of New York Community Bancorp in a research report on Friday, March 8th. They set an "equal weight" rating and a $4.00 price target for the company. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. Based on data from MarketBeat, New York Community Bancorp presently has a consensus rating of "Hold" and an average price target of $5.43.

New York Community Bancorp Trading Down 3.6 %

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 business's fifty day simple moving average is $3.55 and its two-hundred day simple moving average is $7.34. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 0.89 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last announced its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.56). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates 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 earned $0.25 earnings per share. On average, equities analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 annualized dividend and a yield of 6.76%. New York Community Bancorp's dividend payout ratio is currently 6.01%.

Insider Buying and Selling at New York Community Bancorp

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of the business's stock in a transaction dated Friday, February 9th. The stock was acquired 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 directly owns 69,704 shares of the company's stock, valued at approximately $307,394.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other New York Community Bancorp news, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased 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 owns 69,704 shares in the company, valued at $307,394.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Matthew Smith acquired 25,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was acquired 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 owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The disclosure for this purchase can be found here. In the last three months, insiders have bought 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by company insiders.

Institutional Trading of New York Community Bancorp

A number of hedge funds have recently made changes to their positions in NYCB. First National Trust Co acquired a new position in New York Community Bancorp in the first quarter worth $32,000. Sage Rhino Capital LLC acquired a new position in shares of New York Community Bancorp during the first quarter valued at $43,000. KG&L Capital Management LLC acquired a new position in shares of New York Community Bancorp during the first quarter valued at $32,000. Verdence Capital Advisors LLC acquired a new position in shares of New York Community Bancorp during the first quarter valued at $40,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of New York Community Bancorp during the first quarter valued at $159,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

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.

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