New York Community Bancorp (NYSE:NYCB) Trading Down 0.9%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price dropped 0.9% during mid-day trading on Thursday . The company traded as low as $3.26 and last traded at $3.37. Approximately 6,414,804 shares were traded during trading, a decline of 81% from the average daily volume of 34,242,926 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TheStreet cut New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Morgan Stanley dropped their price target 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. DA Davidson cut 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. Royal Bank of Canada dropped their price target 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. Finally, StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.39.

New York Community Bancorp Stock Performance

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 stock has a fifty day simple moving average of $3.36 and a two-hundred day simple moving average of $7.02. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 353.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business’s revenue was down 76.1% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. Analysts forecast that New York Community Bancorp, Inc. will post -0.11 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 annualized dividend and a dividend yield of 1.13%. New York Community Bancorp’s dividend payout ratio is presently 2,000.00%.

Insider Activity

In other news, CEO Thomas R. Cangemi bought 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas R. Cangemi bought 11,310 shares of the company’s stock in a transaction on Friday, February 9th. The shares were purchased 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 $307,394.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Schoels bought 100,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following 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. Insiders bought a total of 213,410 shares of company stock worth $875,626 in the last three months. Company insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds have recently modified their holdings of the stock. Moody Lynn & Lieberson LLC raised its holdings in shares of New York Community Bancorp by 7.1% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 15,150 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,000 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of New York Community Bancorp by 5.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,282 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 1,118 shares during the period. Avantax Advisory Services Inc. grew its stake in New York Community Bancorp by 3.5% in the 3rd quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider’s stock valued at $406,000 after buying an additional 1,204 shares in the last quarter. HB Wealth Management LLC grew its stake in New York Community Bancorp by 7.2% in the 4th quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider’s stock valued at $208,000 after buying an additional 1,371 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in New York Community Bancorp by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 312,764 shares of the financial services provider’s stock valued at $3,547,000 after buying an additional 1,590 shares in the last quarter. 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.