New York Community Bancorp (NYSE:NYCB) Trading Down 1.6%

New York Community Bancorp, Inc. (NYSE:NYCB) dropped 1.6% on Thursday . The company traded as low as $2.97 and last traded at $3.01. Approximately 2,511,889 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 34,249,082 shares. The stock had previously closed at $3.06.

Wall Street Analyst Weigh In

NYCB has been the subject of a number of analyst reports. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Jefferies Financial Group lowered New York Community Bancorp from a “buy” rating to a “hold” rating and cut their price objective for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Morgan Stanley cut 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 research note on Thursday, March 7th. Barclays initiated coverage on New York Community Bancorp in a research note on Friday, March 8th. They set an “equal weight” rating and a $4.00 price objective for the company. Finally, Raymond James lowered New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target for the company. in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.43.

New York Community Bancorp Stock Down 3.6 %

The company has a market capitalization of $2.36 billion, a PE ratio of 0.89 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 firm has a 50-day moving average of $3.51 and a two-hundred day moving average of $7.29.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.56). The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $935.90 million. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. During the same quarter in the previous year, the company posted $0.25 earnings per share. Equities research analysts predict 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 company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is 6.01%.

Insiders Place Their Bets

In other news, Director Marshall Lux purchased 27,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Marshall Lux purchased 27,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the purchase, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The disclosure for this purchase can be found here. Insiders have bought 213,410 shares of company stock worth $875,626 over the last ninety days. Corporate insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

Several hedge funds have recently modified their holdings of NYCB. Norges Bank acquired a new stake in shares of New York Community Bancorp in the fourth quarter valued at $77,628,000. Wellington Management Group LLP raised its stake in shares of New York Community Bancorp by 7.5% in the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after acquiring an additional 4,723,876 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of New York Community Bancorp by 154.0% in the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock valued at $58,242,000 after acquiring an additional 3,114,070 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of New York Community Bancorp by 353.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock valued at $28,953,000 after acquiring an additional 2,206,140 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of New York Community Bancorp by 187.4% in the fourth quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider’s stock valued at $25,234,000 after acquiring an additional 1,608,267 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.