New York Community Bancorp (NYSE:NYCB) Trading Down 0.3%

Shares of New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report) dropped 0.3% on Thursday . The company traded as low as $3.52 and last traded at $3.57. Approximately 2,590,906 shares changed hands during trading, a decline of 92% from the average daily volume of 33,411,320 shares. The stock had previously closed at $3.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup reduced their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a "neutral" rating for the company in a report on Thursday, March 7th. Barclays began coverage on shares of New York Community Bancorp in a report on Friday, March 8th. They issued an "equal weight" rating and a $4.00 price target on the stock. JPMorgan Chase & Co. lowered New York Community Bancorp from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $11.50 to $5.50 in a report on Wednesday, February 7th. Bank of America cut New York Community Bancorp from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $8.50 to $5.00 in a research report on Wednesday, February 7th. Finally, TheStreet lowered New York Community Bancorp from a "b-" rating to a "c+" rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, New York Community Bancorp presently has an average rating of "Hold" and an average price target of $5.39.

New York Community Bancorp Price Performance

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 stock's 50 day moving average price is $3.30 and its two-hundred day moving average price is $6.85. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 357.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business had revenue of $633.00 million during the quarter, compared to analyst estimates of $776.81 million. During the same quarter last year, the business posted $0.23 EPS. The company's revenue was down 76.1% on a year-over-year basis. Equities research analysts forecast that New York Community Bancorp, Inc. will post -0.34 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 annualized dividend and a yield of 1.11%. New York Community Bancorp's dividend payout ratio is presently 400.00%.

Insider Activity

In other news, CEO Thomas R. Cangemi purchased 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 completion of the acquisition, the chief executive officer now owns 69,704 shares of the company's stock, valued at approximately $307,394.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other New York Community Bancorp news, EVP Lee Matthew Smith bought 25,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was 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 in the company, valued at approximately $5,834,766.15. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, 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 bought a total of 213,410 shares of company stock valued at $875,626 in the last three months. 1.62% of the stock is currently owned by corporate insiders.

Institutional Trading of New York Community Bancorp

Several institutional investors have recently modified their holdings of NYCB. Norges Bank purchased a new position in New York Community Bancorp in the 4th quarter valued at about $77,628,000. Wellington Management Group LLP lifted its position in shares of New York Community Bancorp by 7.5% in 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 acquiring an additional 4,723,876 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of New York Community Bancorp by 154.0% in the third 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 position in shares of New York Community Bancorp by 353.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider's stock worth $28,953,000 after purchasing an additional 2,206,140 shares in the last quarter. Finally, Private Management Group Inc. raised its stake in New York Community Bancorp by 1,639.1% in the 1st quarter. Private Management Group Inc. now owns 1,899,114 shares of the financial services provider's stock valued at $6,115,000 after purchasing an additional 1,789,914 shares during the last quarter. Institutional investors and hedge funds 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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