New York Community Bancorp (NYSE:NYCB) Stock Price Up 0.4%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price rose 0.4% during mid-day trading on Tuesday . The stock traded as high as $2.82 and last traded at $2.80. Approximately 2,831,265 shares changed hands during trading, a decline of 92% from the average daily volume of 33,597,809 shares. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

NYCB has been the topic of several recent research reports. Morgan Stanley dropped their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. Compass Point downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and cut their price objective for the stock from $15.00 to $7.00 in a research report on Friday, February 2nd. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective on the stock in a research report on Wednesday. Finally, Jefferies Financial Group downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and cut their price objective for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, New York Community Bancorp currently has an average rating of “Hold” and a consensus 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 50 day simple moving average is $3.40 and its 200 day simple moving average is $7.10. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 1.01 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 the consensus estimate 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 firm had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $776.81 million. During the same period in the previous year, the business posted $0.23 EPS. The business’s revenue was down 76.1% compared to the same quarter last year. Sell-side analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, June 7th. New York Community Bancorp’s payout ratio is presently 6.01%.

Insider Buying and Selling

In other New York Community Bancorp news, Chairman Alessandro Dinello bought 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the acquisition, the chairman now directly owns 114,305 shares of the company’s stock, valued at $478,937.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other New York Community Bancorp news, Director Marshall Lux purchased 27,100 shares of New York Community Bancorp stock in a transaction dated Thursday, March 21st. The shares were acquired at an average price of $3.69 per share, with a total value of $99,999.00. Following the completion of the transaction, the director now owns 64,872 shares of the company’s stock, valued at $239,377.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alessandro Dinello bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $4.19 per share, for a total transaction of $209,500.00. Following the completion of the purchase, the chairman now directly owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 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

Hedge funds have recently modified their holdings of the business. Orion Capital Management LLC purchased a new position in shares of New York Community Bancorp in the third quarter valued at $28,000. Loomis Sayles & Co. L P purchased a new position in shares of New York Community Bancorp in the third quarter valued at $29,000. Naples Money Management LLC purchased a new position in shares of New York Community Bancorp in the fourth quarter valued at $30,000. Authentikos Wealth Advisory LLC purchased a new stake in New York Community Bancorp during the 3rd quarter worth about $35,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in New York Community Bancorp during the 4th quarter worth about $40,000. 67.88% of the stock is currently owned by hedge funds and other 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.