New York Community Bancorp (NYSE:NYCB) Trading Up 1.8%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price shot up 1.8% on Monday . The company traded as high as $2.97 and last traded at $2.89. 7,117,548 shares were traded during mid-day trading, a decline of 81% from the average session volume of 36,671,121 shares. The stock had previously closed at $2.84.

Wall Street Analyst Weigh In

NYCB has been the subject of a number of research analyst reports. Bank of America downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $8.50 to $5.00 in a report on Wednesday, February 7th. UBS Group downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Morgan Stanley cut their price objective on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, March 7th. StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Monday. Finally, Royal Bank of Canada cut their target price on 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. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Stock Up 0.5 %

The firm has a market cap of $2.33 billion, a PE ratio of 0.88, a PEG ratio of 32.38 and a beta of 0.91. 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 company’s 50-day simple moving average is $3.77 and its two-hundred day simple moving average is $7.68.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. During the same quarter in the prior year, the company posted $0.25 earnings per share.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is currently 6.01%.

Insider Activity

In related news, CEO Thomas R. Cangemi acquired 11,310 shares of New York Community Bancorp stock in a transaction on Friday, February 9th. The shares were acquired 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 owns 69,704 shares in the company, valued at $307,394.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other New York Community Bancorp news, Chairman Alessandro Dinello bought 50,000 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $4.19 per share, for a total transaction of $209,500.00. Following the completion of the acquisition, the chairman now owns 114,305 shares of the company’s stock, valued at $478,937.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the transaction, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 213,410 shares of company stock valued at $875,626. Company insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of large investors have recently added to or reduced their stakes in NYCB. State Street Corp boosted its stake in shares of New York Community Bancorp by 61.4% during the 1st quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock worth $319,548,000 after acquiring an additional 13,450,558 shares during the last quarter. Norges Bank purchased a new position in New York Community Bancorp during the fourth quarter valued at $77,628,000. Balyasny Asset Management L.P. bought a new stake in New York Community Bancorp during the first quarter valued at about $55,839,000. Wellington Management Group LLP increased its position in 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 worth $767,366,000 after buying an additional 4,723,876 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised 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 buying an additional 3,114,070 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.