New York Community Bancorp, Inc. (NYSE:NYCB) Plans Quarterly Dividend of $0.17

New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Investors of record on Monday, February 6th will be paid a dividend of 0.17 per share by the financial services provider on Thursday, February 16th. This represents a $0.68 dividend on an annualized basis and a yield of 7.05%.

New York Community Bancorp has a payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect New York Community Bancorp to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 59.6%.

New York Community Bancorp Price Performance

NYSE:NYCB traded down $0.04 during trading hours on Wednesday, reaching $9.65. 348,087 shares of the company were exchanged, compared to its average volume of 7,451,599. The company has a market capitalization of $4.50 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.85 and a beta of 1.02. New York Community Bancorp has a 1-year low of $8.17 and a 1-year high of $12.61. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day moving average of $9.06 and a 200 day moving average of $9.35.

New York Community Bancorp (NYSE:NYCB – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $354.48 million. New York Community Bancorp had a return on equity of 10.10% and a net margin of 33.12%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Research analysts forecast that New York Community Bancorp will post 1.25 EPS for the current year.

Insider Buying and Selling

In related news, Director Marshall Lux bought 6,000 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was acquired at an average cost of $8.53 per share, with a total value of $51,180.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at $102,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other New York Community Bancorp news, Director Marshall Lux purchased 6,000 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was purchased at an average cost of $8.53 per share, for a total transaction of $51,180.00. Following the acquisition, the director now owns 12,000 shares in the company, valued at approximately $102,360. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald A. Rosenfeld sold 138,199 shares of the stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $8.74, for a total value of $1,207,859.26. Following the sale, the director now owns 12,320 shares of the company’s stock, valued at $107,676.80. The disclosure for this sale can be found here. 1.58% of the stock is owned by corporate insiders.

Institutional Trading of New York Community Bancorp

A number of large investors have recently bought and sold shares of NYCB. Point72 Hong Kong Ltd acquired a new stake in shares of New York Community Bancorp in the 2nd quarter valued at about $27,000. Global Wealth Management Investment Advisory Inc. grew its stake in shares of New York Community Bancorp by 58.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 4,750 shares of the financial services provider’s stock valued at $51,000 after buying an additional 1,750 shares during the period. Pearl River Capital LLC acquired a new stake in shares of New York Community Bancorp in the 1st quarter valued at about $112,000. Captrust Financial Advisors grew its stake in shares of New York Community Bancorp by 24.6% in the 3rd quarter. Captrust Financial Advisors now owns 11,234 shares of the financial services provider’s stock valued at $96,000 after buying an additional 2,220 shares during the period. Finally, Eudaimonia Partners LLC acquired a new stake in shares of New York Community Bancorp in the 1st quarter valued at about $137,000. 63.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on New York Community Bancorp in a research note on Monday, December 5th. They set an “equal weight” rating and a $10.00 target price for the company. Stephens upgraded New York Community Bancorp from an “underweight” rating to an “equal weight” rating and set a $8.50 price target for the company in a research note on Friday, December 9th. Piper Sandler dropped their price target on New York Community Bancorp from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, December 5th. Credit Suisse Group dropped their price target on New York Community Bancorp to $9.00 in a research note on Thursday, October 13th. Finally, StockNews.com cut New York Community Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, New York Community Bancorp has an average rating of “Hold” and an average price target of $9.85.

About New York Community Bancorp

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New York Community Bancorp, Inc operates as the bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.