New York Community Bancorp (NYSE:NYCB) Shares Down 1%

New York Community Bancorp, Inc. (NYSE:NYCB) shares dropped 1% on Monday . The stock traded as low as $2.92 and last traded at $2.94. 3,241,730 shares changed hands during trading, a decline of 90% from the average session volume of 33,787,371 shares. The stock had previously closed at $2.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NYCB shares. DA Davidson lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $8.50 to $5.00 in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their target price for the stock from $15.00 to $7.00 in a research report on Friday, February 2nd. Barclays initiated coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They set an “equal weight” rating and a $4.00 price objective for the company. Morgan Stanley decreased their price objective on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Finally, Citigroup decreased their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Stock Performance

The firm has a market capitalization of $2.22 billion, a PE ratio of 0.86 and a beta of 0.92. 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 company’s fifty day moving average price is $3.51 and its two-hundred day moving average price is $7.23.

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 (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.56). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period last year, the business earned $0.25 EPS. As a group, equities analysts expect that New York Community Bancorp, Inc. will post -0.08 earnings per share 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. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is 6.01%.

Insider Buying and Selling

In other New York Community Bancorp news, CEO Thomas R. Cangemi acquired 11,310 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was purchased at an average cost 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 filing with the SEC, which can be accessed through this hyperlink. In related news, Director Marshall Lux purchased 27,100 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas R. Cangemi acquired 11,310 shares of New York Community Bancorp stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders have bought a total of 213,410 shares of company stock valued at $875,626 over the last three months. Company insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NYCB. Versant Capital Management Inc increased its holdings in shares of New York Community Bancorp by 3,583.0% in the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 8,026 shares in the last quarter. Orion Capital Management LLC acquired a new stake in New York Community Bancorp during the 3rd quarter worth approximately $28,000. Loomis Sayles & Co. L P acquired a new position in New York Community Bancorp in the 3rd quarter valued at $29,000. Naples Money Management LLC acquired a new position in New York Community Bancorp in the 4th quarter valued at $30,000. Finally, KG&L Capital Management LLC acquired a new position in shares of New York Community Bancorp during the 1st quarter worth $32,000. Institutional investors own 67.88% of the company’s stock.

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.