New York Community Bancorp (NYSE:NYCB) Trading Down 1%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price fell 1% during trading on Monday . The stock traded as low as $2.92 and last traded at $2.94. 3,241,730 shares traded hands during trading, a decline of 90% from the average session volume of 33,787,371 shares. The stock had previously closed at $2.97.

Wall Street Analysts Forecast Growth

NYCB has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on 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. Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Piper Sandler reiterated a “neutral” rating and issued a $5.00 price target (down previously from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. Bank of America lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.50 to $5.00 in a report on Wednesday, February 7th. Finally, Citigroup cut their price target on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s 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 Trading Down 6.4 %

The business’s fifty day simple moving average is $3.51 and its 200 day simple moving average is $7.23. 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 stock has a market cap of $2.22 billion, a P/E ratio of 0.86 and a beta of 0.92.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.56). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates 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 last year, the business posted $0.25 earnings per share. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 7.19%. New York Community Bancorp’s payout ratio is 6.01%.

Insider Activity

In other news, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $4.41 per share, with a total value of $49,877.10. Following the completion of the purchase, 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 Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas R. Cangemi acquired 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was bought at an average price 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter Schoels bought 100,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.15 per share, with a total value of $415,000.00. Following the completion of the transaction, the director now owns 147,438 shares in the company, valued at $611,867.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On New York Community Bancorp

Several hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in shares of New York Community Bancorp by 3,583.0% during the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 8,026 shares during the last quarter. Orion Capital Management LLC acquired a new stake in New York Community Bancorp in the 3rd quarter worth approximately $28,000. Loomis Sayles & Co. L P purchased a new position in New York Community Bancorp during the 3rd quarter worth approximately $29,000. Naples Money Management LLC purchased a new position in shares of New York Community Bancorp during the 4th quarter valued at approximately $30,000. Finally, KG&L Capital Management LLC acquired a new position in New York Community Bancorp during the first quarter worth $32,000. 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.