New York Community Bancorp (NYSE:NYCB) Trading Down 3.8%

Shares of New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) traded down 3.8% on Wednesday . The company traded as low as $3.48 and last traded at $3.53. 4,211,813 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 33,652,598 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

Several brokerages recently issued reports on NYCB. Compass Point downgraded New York Community Bancorp from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $16.00 to $8.00 in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lowered shares of New York Community Bancorp from a "buy" rating to a "hold" rating and dropped their price target for the company from $15.00 to $7.00 in a research report on Friday, February 2nd. JPMorgan Chase & Co. downgraded shares of New York Community Bancorp from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. 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 target price on the stock. Finally, DA Davidson downgraded New York Community Bancorp from a "buy" rating to a "neutral" rating and cut their target price for the stock from $8.50 to $5.00 in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.39.

New York Community Bancorp Stock Performance

The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The company has a 50 day simple moving average of $3.32 and a 200-day simple moving average of $6.88. The stock has a market capitalization of $2.86 billion, a P/E ratio of 353.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $633.00 million for the quarter, compared to analysts' expectations of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The firm's quarterly revenue was down 76.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 EPS. On average, equities analysts forecast that New York Community Bancorp, Inc. will post -0.34 EPS for the current 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 paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 6th. New York Community Bancorp's payout ratio is currently 2,000.00%.

Insider Activity at New York Community Bancorp

In related news, EVP Lee Matthew Smith acquired 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the purchase, the executive vice president now owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Lee Matthew Smith acquired 25,000 shares of the business's stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the transaction, the executive vice president now owns 1,440,683 shares of the company's stock, valued at $5,834,766.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Schoels acquired 100,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $4.15 per share, with a total value of $415,000.00. Following the purchase, the director now owns 147,438 shares of the company's stock, valued at approximately $611,867.70. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 213,410 shares of company stock worth $875,626. Corporate insiders own 1.62% of the company's stock.

Institutional Trading of New York Community Bancorp

A number of large investors have recently modified their holdings of NYCB. Norges Bank purchased a new stake in New York Community Bancorp in the fourth quarter worth approximately $77,628,000. Wellington Management Group LLP boosted its stake in shares of New York Community Bancorp by 7.5% during the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider's stock valued at $767,366,000 after purchasing an additional 4,723,876 shares during the period. Westfield Capital Management Co. LP grew its holdings in New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider's stock worth $58,242,000 after acquiring an additional 3,114,070 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 purchasing an additional 2,206,140 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in shares of New York Community Bancorp by 187.4% during the fourth quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider's stock valued at $25,234,000 after buying an additional 1,608,267 shares during the period. 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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