New York Community Bancorp (NYSE:NYCB) Shares Gap Up to $2.65

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.65, but opened at $3.19. New York Community Bancorp shares last traded at $3.20, with a volume of 21,542,266 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on NYCB shares. Compass Point downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $8.00 in a report on Thursday, February 1st. Raymond James cut New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target for the company. in a research note on Monday, March 18th. StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Monday. Morgan Stanley cut 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 research report on Thursday, March 7th. Finally, DA Davidson downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.50 to $5.00 in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.36.

New York Community Bancorp Stock Performance

The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 1.05 and a beta of 0.91. The company’s 50-day simple moving average is $3.42 and its 200-day simple moving average is $7.12. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. During the same period in the prior year, the business earned $0.25 earnings per share. On average, analysts expect that New York Community Bancorp, Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling

In other news, EVP Lee Matthew Smith purchased 25,000 shares of the stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the acquisition, the executive vice president now owns 1,440,683 shares in the company, valued at $5,834,766.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other New York Community Bancorp news, EVP Lee Matthew Smith purchased 25,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was purchased at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the acquisition, the executive vice president now owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marshall Lux acquired 27,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The disclosure for this purchase can be found here. Insiders have purchased a total of 213,410 shares of company stock valued at $875,626 over the last ninety days. 1.62% of the stock is owned by company insiders.

Institutional Trading of New York Community Bancorp

Several large investors have recently modified their holdings of NYCB. Sequoia Financial Advisors LLC bought a new position in shares of New York Community Bancorp during the 1st quarter worth about $39,000. Delta Financial Group Inc. boosted its holdings in New York Community Bancorp by 314.7% in the first quarter. Delta Financial Group Inc. now owns 46,258 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 35,104 shares in the last quarter. Mayflower Financial Advisors LLC acquired a new stake in New York Community Bancorp in the first quarter valued at approximately $39,000. Stock Yards Bank & Trust Co. bought a new stake in shares of New York Community Bancorp during the first quarter valued at approximately $87,000. Finally, Commonwealth Equity Services LLC raised its position in shares of New York Community Bancorp by 47.0% during the first quarter. Commonwealth Equity Services LLC now owns 451,017 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 144,109 shares during the period. Institutional investors and hedge funds 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.