New York Community Bancorp (NYSE:NYCB) Stock Price Down 1.6%

New York Community Bancorp, Inc. (NYSE:NYCB) shares traded down 1.6% on Thursday . The stock traded as low as $2.97 and last traded at $3.01. 2,511,889 shares were traded during mid-day trading, a decline of 93% from the average session volume of 34,249,082 shares. The stock had previously closed at $3.06.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wedbush lowered their price objective on New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating on the stock in a research report on Thursday, March 7th. TheStreet cut New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. DA Davidson cut New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $8.50 to $5.00 in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut New York Community Bancorp from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $11.50 to $5.50 in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Trading Up 0.5 %

The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 0.90 and a beta of 0.91. The business has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $7.37.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly 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 net margin of 28.96% and a return on equity of 6.22%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. During the same period last year, the company earned $0.25 EPS. As a group, equities analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Activity

In other news, Director Peter Schoels purchased 100,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $4.15 per share, with a total value of $415,000.00. Following the completion of the purchase, the director now directly owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Peter Schoels acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the acquisition, the director now owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alessandro Dinello acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $4.19 per share, with a total value of $209,500.00. Following the acquisition, the chairman now directly owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The disclosure for this purchase can be found here. Insiders have bought 213,410 shares of company stock valued at $875,626 over the last 90 days. 1.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NYCB. Valeo Financial Advisors LLC bought a new stake in shares of New York Community Bancorp in the first quarter worth about $159,000. Newbridge Financial Services Group Inc. grew its holdings in shares of New York Community Bancorp by 277,777.8% during the first quarter. Newbridge Financial Services Group Inc. now owns 25,009 shares of the financial services provider’s stock worth $81,000 after buying an additional 25,000 shares in the last quarter. Spire Wealth Management grew its holdings in shares of New York Community Bancorp by 25.9% during the first quarter. Spire Wealth Management now owns 45,651 shares of the financial services provider’s stock worth $147,000 after buying an additional 9,401 shares in the last quarter. Charter Oak Capital Management LLC bought a new position in shares of New York Community Bancorp during the first quarter worth about $34,000. Finally, Bfsg LLC bought a new position in shares of New York Community Bancorp during the first quarter worth about $55,000. 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.