New York Community Bancorp (NYSE:NYCB) Trading 1.9% Higher

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price was up 1.9% on Tuesday . The stock traded as high as $3.72 and last traded at $3.72. Approximately 5,295,813 shares traded hands during trading, a decline of 84% from the average daily volume of 33,829,363 shares. The stock had previously closed at $3.65.

Analysts Set New Price Targets

A number of analysts recently issued reports on NYCB shares. Bank of America downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.50 to $5.00 in a report on Wednesday, February 7th. Wedbush upgraded New York Community Bancorp from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $3.00 to $3.50 in a research note on Wednesday, May 1st. Citigroup lowered 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. Compass Point cut 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 research report on Thursday, February 1st. Finally, 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 research note on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, New York Community Bancorp has a consensus rating of “Hold” and an average target price of $5.39.

New York Community Bancorp Price Performance

The firm has a market capitalization of $2.93 billion, a PE ratio of 372.00 and a beta of 0.95. The stock’s 50 day simple moving average is $3.34 and its two-hundred day simple moving average is $6.92. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.78%. The company had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same period in the previous year, the firm earned $0.23 earnings per share. New York Community Bancorp’s quarterly revenue was down 76.1% compared to the same quarter last year. On average, sell-side 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 announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 annualized dividend and a yield of 1.09%. New York Community Bancorp’s dividend payout ratio (DPR) is 2,000.00%.

Insider Buying and Selling at New York Community Bancorp

In other news, Director Marshall Lux bought 27,100 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were bought at an average price of $3.69 per share, with a total value of $99,999.00. Following the completion of the transaction, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other New York Community Bancorp news, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $4.41 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marshall Lux bought 27,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 owns 64,872 shares in the company, valued at $239,377.68. The disclosure for this purchase can be found here. Insiders have acquired 213,410 shares of company stock worth $875,626 over the last quarter. 1.62% of the stock is currently owned by company insiders.

Institutional Trading of New York Community Bancorp

A number of large investors have recently modified their holdings of NYCB. International Assets Investment Management LLC increased its holdings in New York Community Bancorp by 1,237.8% during the 4th quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock worth $47,324,000 after purchasing an additional 447,937 shares during the period. Nordea Investment Management AB acquired a new stake in New York Community Bancorp in the fourth quarter valued at approximately $1,755,000. AQR Capital Management LLC raised its holdings in New York Community Bancorp by 212.7% in the third quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock valued at $22,444,000 after acquiring an additional 1,348,601 shares in the last quarter. Pacer Advisors Inc. lifted its stake in New York Community Bancorp by 79.2% in the fourth quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in New York Community Bancorp by 7.9% during the 4th quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock worth $1,773,000 after acquiring an additional 12,700 shares in the last quarter. Hedge funds and other 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.