New York Community Bancorp, Inc. (NYSE:NYCB) Announces $0.01 Quarterly Dividend

New York Community Bancorp, Inc. (NYSE:NYCB) announced a quarterly dividend on Wednesday, May 1st, RTT News reports. Investors of record on Friday, June 7th will be paid a dividend of 0.01 per share by the financial services provider on Monday, June 17th. This represents a $0.04 annualized dividend and a yield of 1.18%.

New York Community Bancorp has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect New York Community Bancorp to earn $0.28 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 71.4%.

New York Community Bancorp Price Performance

New York Community Bancorp stock opened at $3.40 on Thursday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 1.02 and a beta of 0.95. New York Community Bancorp has a 52-week low of $1.70 and a 52-week high of $14.22. The stock’s 50 day moving average price is $3.40 and its two-hundred day moving average price is $7.10. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The business 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 previous year, the company posted $0.25 earnings per share. On average, equities analysts predict that New York Community Bancorp will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NYCB shares. Royal Bank of Canada cut their price target on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target on the stock in a report on Wednesday. Morgan Stanley lowered their target price on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft lowered New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $7.00 in a research report on Friday, February 2nd. Finally, DA Davidson lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.50 to $5.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.39.

Insider Activity at New York Community Bancorp

In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was purchased 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 in the company, valued at approximately $307,394.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was purchased 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 in the company, valued at approximately $307,394.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Alessandro Dinello bought 50,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.19 per share, with a total value of $209,500.00. Following the completion of the transaction, the chairman now owns 114,305 shares in the company, valued at $478,937.95. The disclosure for this purchase can be found here. In the last three months, insiders purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by insiders.

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.