New York Community Bancorp (NYSE:NYCB) Trading Down 2.7%

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) traded down 2.7% on Thursday . The company traded as low as $3.25 and last traded at $3.25. 4,532,762 shares changed hands during trading, a decline of 88% from the average session volume of 39,192,012 shares. The stock had previously closed at $3.34.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NYCB shares. Bank of America cut shares of 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 research note on Wednesday, February 7th. StockNews.com downgraded shares of New York Community Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. Compass Point lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $8.00 in a report on Thursday, February 1st. UBS Group cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods cut New York Community Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $14.00 to $12.00 in a research note on Monday, December 18th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.64.

New York Community Bancorp Stock Down 3.7 %

The company has a 50 day moving average price of $5.30 and a two-hundred day moving average price of $8.53. The stock has a market cap of $2.57 billion, a PE ratio of 0.98, a PEG ratio of 2.20 and a beta of 0.95. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share 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 previous year, the firm earned $0.25 earnings per share. Analysts expect that New York Community Bancorp, Inc. will post 0.15 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.05 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 6.22%. New York Community Bancorp’s payout ratio is presently 6.01%.

Insider Activity at New York Community Bancorp

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

Institutional Trading of New York Community Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its stake in New York Community Bancorp by 61.4% during the 1st quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock valued at $319,548,000 after acquiring an additional 13,450,558 shares in the last quarter. Norges Bank acquired a new stake in shares of New York Community Bancorp in the fourth quarter valued at approximately $77,628,000. Balyasny Asset Management L.P. purchased a new position in New York Community Bancorp during the first quarter worth approximately $55,839,000. Wellington Management Group LLP grew its holdings in New York Community Bancorp by 7.5% in 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 buying an additional 4,723,876 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of New York Community Bancorp by 154.0% in 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 acquiring an additional 3,114,070 shares during the last quarter. 67.88% of the stock is 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.