New York Community Bancorp (NYSE:NYCB) Stock Price Up 3.7%

New York Community Bancorp, Inc. (NYSE:NYCB) shares shot up 3.7% during mid-day trading on Monday . The company traded as high as $3.08 and last traded at $3.06. 3,379,451 shares traded hands during trading, a decline of 90% from the average session volume of 35,108,352 shares. The stock had previously closed at $2.95.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NYCB. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Morgan Stanley dropped 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. Piper Sandler restated a “neutral” rating and set a $5.00 price objective (down previously from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. StockNews.com raised New York Community Bancorp to a “sell” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. downgraded New York Community Bancorp from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. Three equities 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, the company presently has an average rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Stock Up 2.1 %

The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 0.96 and a beta of 0.91. 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 has a fifty day moving average of $3.61 and a two-hundred day moving average of $7.40.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results 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). 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 analyst estimates of $935.90 million. During the same quarter in the previous year, the business posted $0.25 EPS. As a group, analysts predict that New York Community Bancorp, Inc. will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.28%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Buying and Selling at New York Community Bancorp

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

Institutional Trading of New York Community Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of NYCB. Orion Capital Management LLC acquired a new position in New York Community Bancorp in the third quarter worth about $28,000. Loomis Sayles & Co. L P acquired a new position in New York Community Bancorp in the third quarter worth about $29,000. Naples Money Management LLC acquired a new position in New York Community Bancorp in the fourth quarter worth about $30,000. Authentikos Wealth Advisory LLC acquired a new position in New York Community Bancorp in the third quarter worth about $35,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in New York Community Bancorp in the fourth quarter worth about $40,000. 67.88% of the stock is 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.