New York Community Bancorp (NYSE:NYCB) Trading 1.7% Higher

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) shot up 1.7% during mid-day trading on Monday . The company traded as high as $3.68 and last traded at $3.59. 6,545,774 shares were traded during mid-day trading, a decline of 81% from the average session volume of 34,034,438 shares. The stock had previously closed at $3.53.

Wall Street Analysts Forecast Growth

NYCB has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Wedbush raised shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $3.00 to $3.50 in a research report on Wednesday, May 1st. Finally, Compass Point lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $8.00 in a research report on Thursday, February 1st. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.39.

New York Community Bancorp Stock Performance

The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm’s fifty day moving average price is $3.30 and its 200 day moving average price is $6.85. The firm has a market cap of $2.86 billion, a P/E ratio of 358.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. The business had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business’s revenue for the quarter was down 76.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Sell-side analysts expect that New York Community Bancorp, Inc. will post -0.34 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, June 6th. New York Community Bancorp’s dividend payout ratio is currently 400.00%.

Insider Activity at New York Community Bancorp

In related news, Director Marshall Lux bought 27,100 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were bought at an average price of $3.69 per share, with a total value of $99,999.00. Following the transaction, the director now owns 64,872 shares in the company, valued at $239,377.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Peter Schoels acquired 100,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the purchase, the director now directly owns 147,438 shares in the company, valued at approximately $611,867.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marshall Lux bought 27,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average cost of $3.69 per share, with a total value of $99,999.00. Following the acquisition, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The disclosure for this purchase can be found here. Insiders have acquired 213,410 shares of company stock valued at $875,626 in the last ninety days. Corporate insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Focused Wealth Management Inc purchased a new stake in shares of New York Community Bancorp in the first quarter worth about $80,000. Inspire Investing LLC lifted its stake in shares of New York Community Bancorp by 185.8% in the 1st quarter. Inspire Investing LLC now owns 118,923 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 77,311 shares during the period. Inspire Advisors LLC boosted its holdings in New York Community Bancorp by 87.5% during the first quarter. Inspire Advisors LLC now owns 32,599 shares of the financial services provider’s stock worth $105,000 after buying an additional 15,215 shares in the last quarter. Arnhold LLC grew its position in New York Community Bancorp by 100.0% during the first quarter. Arnhold LLC now owns 70,000 shares of the financial services provider’s stock valued at $225,000 after buying an additional 35,000 shares during the period. Finally, Meeder Advisory Services Inc. purchased a new position in New York Community Bancorp in the first quarter valued at $57,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

New York Community Bancorp Company Profile

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.