New York Community Bancorp (NYSE:NYCB) Stock Price Down 4.1%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price fell 4.1% on Wednesday . The company traded as low as $3.03 and last traded at $3.05. 3,372,502 shares were traded during trading, a decline of 90% from the average session volume of 34,535,906 shares. The stock had previously closed at $3.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NYCB. Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. Piper Sandler reiterated a “neutral” rating and set a $5.00 price target (down from $8.00) on shares of New York Community Bancorp in a research report on Friday, March 1st. Barclays assumed coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an “equal weight” rating and a $4.00 price target on the stock. Compass Point lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $8.00 in a report on Thursday, February 1st. Finally, DA Davidson lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $8.50 to $5.00 in a report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, New York Community Bancorp currently has an average rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Price Performance

The business has a 50-day moving average price of $3.61 and a 200 day moving average price of $7.40. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 0.90 and a beta of 0.91. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data 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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. During the same quarter last year, the company posted $0.25 EPS. As a group, research analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.54%. New York Community Bancorp’s payout ratio is currently 6.01%.

Insider Activity

In other New York Community Bancorp news, Director Marshall Lux bought 27,100 shares of New York Community Bancorp stock in a transaction dated Thursday, March 21st. The stock was bought at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the acquisition, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marshall Lux acquired 27,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of $3.69 per share, with a total value of $99,999.00. Following the completion of the acquisition, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The disclosure for this purchase can be found here. Insiders acquired 213,410 shares of company stock worth $875,626 over the last quarter. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in NYCB. Versant Capital Management Inc grew its position in shares of New York Community Bancorp by 3,583.0% in the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 8,026 shares during the last quarter. Orion Capital Management LLC acquired a new stake in New York Community Bancorp during the third quarter worth about $28,000. Loomis Sayles & Co. L P acquired a new stake in New York Community Bancorp during the third quarter worth about $29,000. Naples Money Management LLC acquired a new stake in New York Community Bancorp during the fourth quarter worth about $30,000. Finally, BTC Capital Management Inc. acquired a new stake in New York Community Bancorp during the first quarter worth about $32,000. 67.88% of the stock is owned by institutional investors and hedge funds.

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.