New York Community Bancorp (NYSE:NYCB) Shares Down 0.3%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price traded down 0.3% during mid-day trading on Thursday . The stock traded as low as $3.52 and last traded at $3.57. 2,590,906 shares were traded during mid-day trading, a decline of 92% from the average session volume of 33,411,320 shares. The stock had previously closed at $3.58.

Analyst Ratings Changes

Several research firms recently weighed in on NYCB. Royal Bank of Canada reduced their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Barclays started coverage on shares of New York Community Bancorp in a research report on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price objective for the company. Morgan Stanley lowered 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. Jefferies Financial Group lowered New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.00 to $7.00 in a research note on Thursday, February 1st. Finally, Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price for the company in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Stock Performance

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 stock has a 50 day simple moving average of $3.30 and a 200 day simple moving average of $6.85. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 357.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last posted 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 return on equity of 2.78% and a net margin of 0.62%. The company had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. During the same period last year, the business posted $0.23 earnings per share. The firm’s quarterly revenue was down 76.1% compared to the same quarter last year. As a group, analysts anticipate that New York Community Bancorp, Inc. will post -0.34 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 annualized dividend and a dividend yield of 1.11%. New York Community Bancorp’s payout ratio is 400.00%.

Insider Activity at New York Community Bancorp

In related news, Director Marshall Lux purchased 27,100 shares of New York Community Bancorp stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the purchase, the director now owns 64,872 shares in the company, valued at approximately $239,377.68. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other New York Community Bancorp news, Director Peter Schoels purchased 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now owns 147,438 shares of the company’s stock, valued at $611,867.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marshall Lux acquired 27,100 shares of the stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the purchase, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The disclosure for this purchase can be found here. Insiders purchased 213,410 shares of company stock worth $875,626 in the last 90 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 added to or reduced their stakes in the business. Monaco Asset Management SAM bought a new position in shares of New York Community Bancorp in the first quarter valued at $41,000. Private Management Group Inc. lifted its holdings in shares of New York Community Bancorp by 1,639.1% during the first quarter. Private Management Group Inc. now owns 1,899,114 shares of the financial services provider’s stock valued at $6,115,000 after purchasing an additional 1,789,914 shares during the last quarter. Stilwell Value LLC acquired a new position in shares of New York Community Bancorp in the 1st quarter valued at $322,000. Foundation Wealth Management LLC purchased a new position in New York Community Bancorp in the 1st quarter worth about $33,000. Finally, Focused Wealth Management Inc acquired a new stake in New York Community Bancorp during the 1st quarter worth about $80,000. 67.88% of the stock is 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.