New York Community Bancorp (NYSE:NYCB) Trading Up 0.4%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price rose 0.4% during trading on Tuesday . The company traded as high as $2.82 and last traded at $2.80. Approximately 2,831,265 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 33,597,809 shares. The stock had previously closed at $2.79.

Analysts Set New Price Targets

NYCB has been the subject of several analyst reports. Raymond James lowered shares of 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 report on Monday, March 18th. DA Davidson cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.50 to $5.00 in a research report on Thursday, February 8th. Citigroup decreased their price target on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 7th. JPMorgan Chase & Co. downgraded New York Community Bancorp from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $11.50 to $5.50 in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their target price for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Stock Down 0.9 %

The company has a market capitalization of $2.69 billion, a PE ratio of 1.01 and a beta of 0.95. 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’s 50 day moving average is $3.40 and its 200 day moving average is $7.10.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. New York Community Bancorp’s revenue was down 76.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. On average, sell-side analysts anticipate that New York Community Bancorp, Inc. will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, June 7th. New York Community Bancorp’s payout ratio is currently 6.01%.

Insider Activity at New York Community Bancorp

In other news, Chairman Alessandro Dinello bought 50,000 shares of the stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $4.19 per share, for a total transaction of $209,500.00. Following the purchase, the chairman now directly owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Marshall Lux bought 27,100 shares of the stock in a transaction 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 purchase, the director now directly owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alessandro Dinello acquired 50,000 shares of the stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $4.19 per share, for a total transaction of $209,500.00. Following the transaction, the chairman now owns 114,305 shares in the company, valued at approximately $478,937.95. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 213,410 shares of company stock worth $875,626. 1.62% of the stock is owned by corporate insiders.

Institutional Trading of New York Community Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC grew its holdings in shares of New York Community Bancorp by 66.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 3,876 shares during the last quarter. Graypoint LLC bought a new position in shares of New York Community Bancorp during the 1st quarter valued at $35,000. PL Capital Advisors LLC grew its holdings in shares of New York Community Bancorp by 25.3% during the 1st quarter. PL Capital Advisors LLC now owns 940,000 shares of the financial services provider’s stock valued at $3,027,000 after purchasing an additional 190,000 shares during the last quarter. Centric Wealth Management bought a new position in shares of New York Community Bancorp during the 1st quarter valued at $264,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of New York Community Bancorp during the 1st quarter valued at $39,000. Hedge funds and other 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.