New York Community Bancorp (NYSE:NYCB) Trading Up 0.3%

New York Community Bancorp, Inc. (NYSE:NYCB) shares were up 0.3% during trading on Wednesday . The stock traded as high as $2.95 and last traded at $2.92. Approximately 10,803,152 shares were traded during trading, a decline of 49% from the average daily volume of 21,008,084 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NYCB. Wedbush dropped their price objective on New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating on the stock in a research note on Thursday, March 7th. TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Monday, February 5th. Morgan Stanley decreased their price objective 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 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. Finally, Deutsche Bank Aktiengesellschaft lowered New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. Three equities 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, the company currently has a consensus rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Trading Down 0.7 %

The firm has a fifty day simple moving average of $3.72 and a two-hundred day simple moving average of $7.61. The firm has a market capitalization of $2.35 billion, a P/E ratio of 0.89 and a beta of 0.91. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter in the prior year, the company earned $0.25 EPS. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given 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 6.78%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Activity at New York Community Bancorp

In other news, CEO Thomas R. Cangemi bought 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 price of $4.41 per share, with a total value of $49,877.10. Following the completion of the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Thomas R. Cangemi bought 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 price of $4.41 per share, with a total value of $49,877.10. Following the completion of the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alessandro Dinello bought 50,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $4.19 per share, for a total transaction of $209,500.00. Following the purchase, the chairman now owns 114,305 shares of the company’s stock, valued at $478,937.95. The disclosure for this purchase can be found here. Insiders have bought a total of 213,410 shares of company stock valued at $875,626 over the last 90 days. 1.62% of the stock is owned by insiders.

Hedge Funds Weigh In On New York Community Bancorp

A number of hedge funds have recently added to or reduced their stakes in NYCB. JPMorgan Chase & Co. raised its holdings in New York Community Bancorp by 6.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,081,423 shares of the financial services provider’s stock worth $11,593,000 after acquiring an additional 63,418 shares during the last quarter. American Century Companies Inc. grew its position in shares of New York Community Bancorp by 95.1% during the 1st quarter. American Century Companies Inc. now owns 146,581 shares of the financial services provider’s stock valued at $1,571,000 after acquiring an additional 71,460 shares during the period. US Bancorp DE grew its position in shares of New York Community Bancorp by 2.7% during the 1st quarter. US Bancorp DE now owns 60,084 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 1,587 shares during the period. AlphaCrest Capital Management LLC grew its position in shares of New York Community Bancorp by 122.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 36,608 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 20,121 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in shares of New York Community Bancorp during the 1st quarter valued at $235,000. 67.88% of the stock is currently owned by hedge funds and other 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.