New York Community Bancorp (NYSE:NYCB) Stock Price Up 1.8%

New York Community Bancorp, Inc. (NYSE:NYCB) shares rose 1.8% during mid-day trading on Wednesday . The stock traded as high as $3.46 and last traded at $3.38. Approximately 3,170,430 shares traded hands during trading, a decline of 89% from the average daily volume of 29,184,291 shares. The stock had previously closed at $3.32.

Analyst Ratings Changes

Several equities analysts have weighed in on NYCB shares. StockNews.com raised New York Community Bancorp to a “sell” rating in a research report on Monday, April 29th. Citigroup reduced their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Wedbush upgraded shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $3.00 to $3.50 in a research note on Wednesday, May 1st. Morgan Stanley decreased 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 report on Thursday, March 7th. Finally, Raymond James downgraded New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target on the stock. in a report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.39.

New York Community Bancorp Stock Down 1.5 %

The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 1.26. The firm has a market cap of $2.68 billion, a P/E ratio of 338.00 and a beta of 0.98. The firm’s 50-day moving average price is $3.26 and its 200 day moving average price is $5.81.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The firm’s revenue was down 76.1% on a year-over-year basis. On average, equities research analysts expect that New York Community Bancorp, Inc. will post -0.49 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, June 7th. New York Community Bancorp’s payout ratio is 400.00%.

Insider Transactions at New York Community Bancorp

In other news, Director Marshall Lux bought 27,100 shares of New York Community Bancorp stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $3.69 per share, with a total value of $99,999.00. Following the purchase, the director now directly owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of New York Community Bancorp during the 4th quarter worth about $77,628,000. Wellington Management Group LLP raised its holdings in New York Community Bancorp by 7.5% during the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after purchasing an additional 4,723,876 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in New York Community Bancorp by 154.0% in the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after purchasing an additional 3,114,070 shares during the period. Goldman Sachs Group Inc. boosted its stake in New York Community Bancorp by 353.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock valued at $28,953,000 after purchasing an additional 2,206,140 shares in the last quarter. Finally, Private Management Group Inc. increased its position in shares of New York Community Bancorp by 1,639.1% during the 1st 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 period. 67.88% of the stock is currently owned by institutional investors.

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.