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

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price traded down 1% during mid-day trading on Monday . The company traded as low as $2.92 and last traded at $2.94. 3,241,730 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 33,787,371 shares. The stock had previously closed at $2.97.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James downgraded New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price objective for the company. in a research note on Monday, March 18th. 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. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Monday. Compass Point downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $8.00 in a research note on Thursday, February 1st. Finally, Royal Bank of Canada cut 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. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to MarketBeat, New York Community Bancorp has a consensus rating of “Hold” and a consensus target price of $5.43.

New York Community Bancorp Trading Up 15.5 %

The company has a market capitalization of $2.44 billion, a PE ratio of 0.79 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. The stock has a fifty day moving average of $3.42 and a two-hundred day moving average of $7.12.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, sell-side analysts anticipate that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at New York Community Bancorp

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter Schoels purchased 100,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the transaction, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $4.41 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last three months, insiders have bought 213,410 shares of company stock valued at $875,626. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new stake in shares of New York Community Bancorp in the 1st quarter worth approximately $39,000. Delta Financial Group Inc. grew its position in shares of New York Community Bancorp by 314.7% in the 1st quarter. Delta Financial Group Inc. now owns 46,258 shares of the financial services provider’s stock worth $149,000 after buying an additional 35,104 shares during the last quarter. Mayflower Financial Advisors LLC bought a new stake in shares of New York Community Bancorp in the 1st quarter worth approximately $39,000. Stock Yards Bank & Trust Co. bought a new stake in shares of New York Community Bancorp in the 1st quarter worth approximately $87,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of New York Community Bancorp by 47.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 451,017 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 144,109 shares during the period. 67.88% of the stock is currently owned by institutional investors.

About New York Community Bancorp

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.