New York Community Bancorp (NYSE:NYCB) Stock Price Up 0.5%

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) rose 0.5% during mid-day trading on Thursday . The company traded as high as $3.76 and last traded at $3.69. Approximately 2,416,233 shares traded hands during trading, a decline of 93% from the average daily volume of 32,547,084 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NYCB. JPMorgan Chase & Co. lowered shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $11.50 to $5.50 in a research note on Wednesday, February 7th. Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price on the stock in a research note on Wednesday, May 1st. Barclays initiated coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an “equal weight” rating and a $4.00 target price on the stock. Compass Point downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $8.00 in a research note on Thursday, February 1st. Finally, TheStreet lowered shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, New York Community Bancorp has a consensus rating of “Hold” and an average target price of $5.39.

New York Community Bancorp Price Performance

The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a market capitalization of $3.03 billion, a PE ratio of 369.00 and a beta of 0.95. The stock’s 50 day moving average is $3.32 and its two-hundred day moving average is $6.57.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $633.00 million for the quarter, compared to analyst estimates of $776.81 million. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. The firm’s revenue for the quarter was down 76.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, equities analysts anticipate that New York Community Bancorp, Inc. will post -0.48 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.04 dividend on an annualized basis and a yield of 1.08%. New York Community Bancorp’s payout ratio is 2,000.00%.

Insider Transactions at New York Community Bancorp

In related news, Director Marshall Lux purchased 27,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $3.69 per share, with a total value of $99,999.00. Following the completion of the acquisition, the director now owns 64,872 shares in the company, valued at $239,377.68. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

Several large investors have recently added to or reduced their stakes in NYCB. Wellington Management Group LLP boosted its position in shares of New York Community Bancorp by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after acquiring an additional 4,723,876 shares during the last quarter. Norges Bank purchased a new stake in shares of New York Community Bancorp in the 4th quarter valued at approximately $77,628,000. Kahn Brothers Group Inc. grew its stake in shares of New York Community Bancorp by 0.9% in the 1st quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock valued at $20,007,000 after buying an additional 53,275 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of New York Community Bancorp by 154.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after buying an additional 3,114,070 shares during the last quarter. Finally, Cannell & Co. raised its position in shares of New York Community Bancorp by 12.3% during the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock valued at $46,793,000 after buying an additional 500,545 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.