New York Community Bancorp, Inc. (NYCB) to Issue Quarterly Dividend of $0.01 on June 17th

New York Community Bancorp, Inc. (NYSE:NYCB) announced a quarterly dividend on Wednesday, May 1st, RTT News reports. Investors of record on Friday, June 7th will be paid a dividend of 0.01 per share by the financial services provider on Monday, June 17th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, June 7th.

New York Community Bancorp has a dividend payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect New York Community Bancorp to earn $0.28 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 71.4%.

New York Community Bancorp Trading Down 0.9 %

NYSE NYCB opened at $3.37 on Friday. The stock’s 50-day simple moving average is $3.38 and its two-hundred day simple moving average is $7.07. New York Community Bancorp has a twelve month low of $1.70 and a twelve month high of $14.22. 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 company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 337.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was down 76.1% on a year-over-year basis. Research analysts forecast that New York Community Bancorp will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marshall Lux acquired 27,100 shares of the firm’s stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through the SEC website. In related news, Director Marshall Lux acquired 27,100 shares of the firm’s stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter Schoels acquired 100,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the purchase, the director now directly owns 147,438 shares of the company’s stock, valued at $611,867.70. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 213,410 shares of company stock valued at $875,626. Insiders own 1.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NYCB. Wedbush raised New York Community Bancorp from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $3.00 to $3.50 in a research note on Wednesday. DA Davidson cut New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their target price for the stock from $8.50 to $5.00 in a research note on Thursday, February 8th. Morgan Stanley cut their target price on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and cut their target price for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Finally, Barclays initiated coverage on New York Community Bancorp in a research note on Friday, March 8th. They issued an “equal weight” rating and a $4.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, New York Community Bancorp currently has a consensus rating of “Hold” and a consensus target price of $5.39.

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.