New York Community Bancorp (NYSE:NYCB) Trading Down 0.9%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) traded down 0.9% on Thursday . The stock traded as low as $3.26 and last traded at $3.37. 6,414,804 shares were traded during trading, a decline of 81% from the average session volume of 34,242,926 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

A number of research analysts have recently commented on NYCB shares. Citigroup cut their target price on New York Community Bancorp from $5.00 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, March 7th. Morgan Stanley lowered their price target on shares of New York Community Bancorp from $6.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, March 7th. Wedbush upgraded shares of New York Community Bancorp from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $3.00 to $3.50 in a research note on Wednesday. Compass Point cut New York Community Bancorp from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. cut shares of New York Community Bancorp from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $11.50 to $5.50 in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $5.39.

New York Community Bancorp Trading Down 0.9 %

The firm has a market cap of $2.69 billion, a PE ratio of 1.01 and a beta of 0.95. 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 company has a 50-day simple moving average of $3.38 and a 200 day simple moving average of $7.07.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The firm had revenue of $633.00 million for the quarter, compared to analysts' expectations of $776.81 million. During the same quarter last year, the company earned $0.23 EPS. The firm's revenue for the quarter was down 76.1% compared to the same quarter last year. As a group, sell-side analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, June 7th. This represents a $0.04 dividend on an annualized basis and a yield of 1.19%. New York Community Bancorp's payout ratio is presently 6.01%.

Insider Transactions at New York Community Bancorp

In other news, Director Marshall Lux bought 27,100 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the acquisition, the director now directly owns 64,872 shares of the company's stock, valued at approximately $239,377.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Marshall Lux bought 27,100 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were bought at an average price of $3.69 per share, with a total value of $99,999.00. Following the completion of the transaction, the director now directly owns 64,872 shares of the company's stock, valued at approximately $239,377.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $4.41 per share, with a total value of $49,877.10. Following the transaction, the chief executive officer now directly owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders have purchased a total of 213,410 shares of company stock worth $875,626 in the last ninety days. Insiders own 1.62% of the company's stock.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in New York Community Bancorp by 3,583.0% in the first 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 last quarter. Orion Capital Management LLC purchased a new stake in New York Community Bancorp in the third quarter valued at approximately $28,000. Loomis Sayles & Co. L P purchased a new stake in New York Community Bancorp in the third quarter valued at approximately $29,000. Naples Money Management LLC acquired a new stake in New York Community Bancorp during the 4th quarter worth $30,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of New York Community Bancorp by 66.9% during the first quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider's stock worth $31,000 after buying an additional 3,876 shares during the period. Hedge funds and other institutional investors own 67.88% of the company's stock.

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.