New York Community Bancorp (NYSE:NYCB) Shares Down 2.6%

New York Community Bancorp, Inc. (NYSE:NYCB) was down 2.6% on Friday . The stock traded as low as $2.98 and last traded at $2.99. Approximately 3,193,082 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 33,958,441 shares. The stock had previously closed at $3.07.

Analysts Set New Price Targets

Several equities analysts have weighed in on NYCB shares. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Bank of America cut New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.50 to $5.00 in a report on Wednesday, February 7th. Wedbush dropped their price objective on New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a report on Thursday, March 7th. Barclays assumed coverage on New York Community Bancorp in a report on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price objective for the company. Finally, Compass Point lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $8.00 in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.43.

New York Community Bancorp Price Performance

The firm has a market cap of $2.36 billion, a P/E ratio of 0.89 and a beta of 0.91. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The business has a 50-day moving average of $3.55 and a two-hundred day moving average of $7.34.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, sell-side analysts anticipate 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 was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a $0.05 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.76%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Buying and Selling at New York Community Bancorp

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the transaction, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other New York Community Bancorp news, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marshall Lux acquired 27,100 shares of the company’s 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 completion of 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. In the last quarter, insiders have purchased 213,410 shares of company stock worth $875,626. Insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its stake in New York Community Bancorp by 53.3% during the 3rd quarter. CWM LLC now owns 11,924 shares of the financial services provider’s stock worth $135,000 after buying an additional 4,146 shares during the period. SG Americas Securities LLC acquired a new position in New York Community Bancorp during the 3rd quarter worth approximately $2,046,000. Avior Wealth Management LLC acquired a new position in New York Community Bancorp during the 3rd quarter worth approximately $189,000. Meridian Wealth Management LLC raised its stake in New York Community Bancorp by 88.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 63,600 shares of the financial services provider’s stock worth $721,000 after buying an additional 29,800 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in New York Community Bancorp during the 3rd quarter worth approximately $1,641,000. 67.88% of the stock is owned by institutional investors and hedge funds.

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.