New York Community Bancorp (NYSE:NYCB) Trading Down 1%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price dropped 1% during mid-day trading on Tuesday . The stock traded as low as $2.85 and last traded at $2.88. Approximately 2,473,180 shares were traded during trading, a decline of 93% from the average daily volume of 36,401,156 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

NYCB has been the subject of several recent research reports. Morgan Stanley decreased 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 report on Thursday, March 7th. DA Davidson downgraded 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 Thursday, February 8th. Bank of America downgraded 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. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Monday. Finally, Piper Sandler restated a “neutral” rating and issued a $5.00 price objective (down previously from $8.00) on shares of New York Community Bancorp in a research note on Friday, March 1st. Three research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. Based on data from MarketBeat.com, New York Community Bancorp currently has an average rating of “Hold” and a consensus price target of $5.43.

New York Community Bancorp Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The business has a 50-day moving average price of $3.74 and a 200 day moving average price of $7.65. The stock has a market cap of $2.37 billion, a PE ratio of 0.89 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $935.90 million. During the same period in the prior year, the company earned $0.25 EPS. As a group, research analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 annualized dividend and a yield of 6.73%. New York Community Bancorp’s dividend payout ratio is currently 6.01%.

Insiders Place Their Bets

In related news, Director Marshall Lux bought 27,100 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the purchase, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Lee Matthew Smith bought 25,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the purchase, the executive vice president now directly owns 1,440,683 shares in the company, valued at $5,834,766.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marshall Lux purchased 27,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were acquired at an average price of $3.69 per share, with a total value of $99,999.00. Following the transaction, the director now owns 64,872 shares in the company, valued at approximately $239,377.68. The disclosure for this purchase can be found here. Insiders purchased a total of 213,410 shares of company stock worth $875,626 in the last quarter. 1.62% of the stock is owned by company insiders.

Institutional Trading of New York Community Bancorp

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in shares of 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 valued at $47,324,000 after acquiring an additional 447,937 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of New York Community Bancorp during the 4th quarter valued at about $1,755,000. AQR Capital Management LLC boosted its position in shares of New York Community Bancorp by 212.7% during the 3rd 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 during the last quarter. Pacer Advisors Inc. boosted its position in shares of New York Community Bancorp by 79.2% during the 4th quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of 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 valued at $1,773,000 after acquiring an additional 12,700 shares during 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.