New York Community Bancorp (NYSE:NYCB) Trading Down 2.7%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price was down 2.7% on Thursday . The company traded as low as $3.25 and last traded at $3.25. Approximately 4,532,762 shares traded hands during trading, a decline of 88% from the average daily volume of 39,192,012 shares. The stock had previously closed at $3.34.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NYCB shares. Compass Point downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $8.00 in a research note on Thursday, February 1st. Keefe, Bruyette & Woods downgraded shares of New York Community Bancorp from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $14.00 to $12.00 in a report on Monday, December 18th. Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and cut their price target for the company from $13.00 to $7.00 in a report on Thursday, February 1st. Barclays started coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They set an “equal weight” rating and a $4.00 price target on the stock. Finally, Wedbush lowered their target price on shares of 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. Three 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.com, New York Community Bancorp currently has a consensus rating of “Hold” and a consensus price target of $5.64.

New York Community Bancorp Trading Down 3.7 %

The firm’s 50 day simple moving average is $5.30 and its two-hundred day simple moving average is $8.53. The stock has a market capitalization of $2.57 billion, a P/E ratio of 0.98, a P/E/G ratio of 2.20 and a beta of 0.95. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last posted 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). New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter last year, the business posted $0.25 EPS. As a group, analysts forecast that New York Community Bancorp, Inc. will post 0.15 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 annualized dividend and a dividend yield of 6.22%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Buying and Selling at New York Community Bancorp

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

Institutional Investors Weigh In On New York Community Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB bought a new stake in shares of New York Community Bancorp during the 4th quarter valued at about $1,755,000. AQR Capital Management LLC boosted its position in shares of New York Community Bancorp by 212.7% in the third quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock worth $22,444,000 after purchasing an additional 1,348,601 shares during the period. Soros Fund Management LLC purchased a new position in New York Community Bancorp during the third quarter valued at approximately $4,990,000. Kingswood Wealth Advisors LLC purchased a new stake in New York Community Bancorp during the fourth quarter worth $463,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in New York Community Bancorp during the 3rd quarter valued at $338,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.