New York Community Bancorp (NYSE:NYCB) Trading Down 0.9%

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) traded down 0.9% during trading on Thursday . The stock traded as low as $3.26 and last traded at $3.37. 6,414,804 shares were traded during trading, a decline of 81% from the average session volume of 34,242,926 shares. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

NYCB has been the topic of a number of analyst reports. Compass Point downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their price target for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. Morgan Stanley cut their target price 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. UBS Group downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Barclays started coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an “equal weight” rating and a $4.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, New York Community Bancorp presently has a consensus rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Stock Performance

The company has a market capitalization of $2.69 billion, a P/E ratio of 0.98 and a beta of 0.95. 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 stock’s 50 day moving average price is $3.40 and its 200 day moving average price is $7.10.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The company had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same quarter in the previous year, the company earned $0.23 EPS. New York Community Bancorp’s quarterly revenue was down 76.1% compared to the same quarter last year. As a group, equities analysts expect that New York Community Bancorp, Inc. will post -0.08 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.19%. New York Community Bancorp’s dividend payout ratio is currently 6.01%.

Insider Activity at New York Community Bancorp

In related news, Director Peter Schoels purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the acquisition, the director now owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Peter Schoels bought 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, with a total value of $415,000.00. Following the transaction, the director now directly owns 147,438 shares of the company’s stock, valued at $611,867.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in New York Community Bancorp by 1,237.8% during the fourth quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock valued at $47,324,000 after purchasing an additional 447,937 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of New York Community Bancorp in the 4th quarter worth about $1,755,000. AQR Capital Management LLC boosted its holdings in shares of New York Community Bancorp by 212.7% in the 3rd 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 in the last quarter. Pacer Advisors Inc. lifted its position in New York Community Bancorp by 79.2% in the 4th quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in New York Community Bancorp by 7.9% in the fourth quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock worth $1,773,000 after buying an additional 12,700 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.