New York Community Bancorp (NYSE:NYCB) Trading Up 5.2%

Shares of New York Community Bancorp, Inc. (NYSE:NYCBGet Free Report) were up 5.2% during mid-day trading on Wednesday . The company traded as high as $3.24 and last traded at $3.23. Approximately 9,183,693 shares traded hands during trading, a decline of 76% from the average daily volume of 38,785,965 shares. The stock had previously closed at $3.07.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NYCB shares. UBS Group downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Piper Sandler restated a “neutral” rating and set a $5.00 price objective (down from $8.00) on shares of New York Community Bancorp in a research report on Friday, March 1st. Wedbush cut their price objective on New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a research report on Thursday, March 7th. Bank of America downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.50 to $5.00 in a research report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods downgraded New York Community Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $14.00 to $12.00 in a research report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.64.

Get Our Latest Stock Report on New York Community Bancorp

New York Community Bancorp Price Performance

The company has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $8.26. 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 company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 0.97, a P/E/G ratio of 2.21 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCBGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) 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 period in the prior year, the firm earned $0.25 earnings per share. As a group, research analysts anticipate that New York Community Bancorp, Inc. will post 0.15 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed 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 of this dividend was Tuesday, February 13th. This represents a $0.20 annualized dividend and a dividend yield of 6.15%. New York Community Bancorp’s dividend payout ratio is presently 6.01%.

Insider Activity

In related news, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $4.41 per share, with a total value of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other New York Community Bancorp news, Chairman Alessandro Dinello purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $4.19 per share, with a total value of $209,500.00. Following the transaction, the chairman now owns 114,305 shares in the company, valued at $478,937.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, 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. Insiders purchased 213,410 shares of company stock valued at $875,626 in the last ninety days. Company insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

A number of institutional investors have recently added to or reduced their stakes in NYCB. Versant Capital Management Inc boosted its position in New York Community Bancorp by 3,583.0% during the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 8,026 shares during the period. Point72 Hong Kong Ltd acquired a new position in New York Community Bancorp in the 2nd quarter worth $27,000. Orion Capital Management LLC acquired a new position in New York Community Bancorp in the 3rd quarter worth $28,000. Loomis Sayles & Co. L P acquired a new position in New York Community Bancorp in the 3rd quarter worth $29,000. Finally, Lazard Asset Management LLC acquired a new position in New York Community Bancorp in the 4th quarter worth $29,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

New York Community Bancorp Company Profile

(Get Free Report)

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.

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