New York Community Bancorp (NYSE:NYCB) Trading 1.8% Higher

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price shot up 1.8% during trading on Monday . The company traded as high as $2.97 and last traded at $2.89. 7,117,548 shares changed hands during trading, a decline of 81% from the average session volume of 36,671,121 shares. The stock had previously closed at $2.84.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. JPMorgan Chase & Co. cut New York Community Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $11.50 to $5.50 in a research note on Wednesday, February 7th. Bank of America downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.50 to $5.00 in a research note on Wednesday, February 7th. Citigroup reduced their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft cut shares of New York Community Bancorp from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The stock’s 50 day moving average price is $3.77 and its two-hundred day moving average price is $7.68. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 0.88, a P/E/G ratio of 32.38 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter last year, the firm earned $0.25 EPS.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 6.84%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s payout ratio is presently 6.01%.

Insider Transactions at New York Community Bancorp

In related news, Director Peter Schoels bought 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the acquisition, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of the stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Schoels acquired 100,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 213,410 shares of company stock worth $875,626 in the last 90 days. 1.62% of the stock is owned by insiders.

Institutional Trading of New York Community Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Moody Lynn & Lieberson LLC raised its stake in New York Community Bancorp by 7.1% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 15,150 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,000 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of New York Community Bancorp by 5.0% during the third quarter. Kestra Private Wealth Services LLC now owns 23,282 shares of the financial services provider’s stock valued at $264,000 after buying an additional 1,118 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of New York Community Bancorp by 9.7% in the first quarter. Apollon Wealth Management LLC now owns 13,562 shares of the financial services provider’s stock valued at $123,000 after buying an additional 1,200 shares during the period. Avantax Advisory Services Inc. grew its position in New York Community Bancorp by 3.5% during the third quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider’s stock worth $406,000 after buying an additional 1,204 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in New York Community Bancorp by 7.2% during the fourth quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 1,371 shares during the period. 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.