New York Community Bancorp (NYSE:NYCB) Trading 4.2% Higher

New York Community Bancorp, Inc. (NYSE:NYCB) rose 4.2% on Friday . The company traded as high as $3.65 and last traded at $3.51. Approximately 11,343,298 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 34,165,129 shares. The stock had previously closed at $3.37.

Analysts Set New Price Targets

NYCB has been the topic of a number of research analyst reports. UBS Group cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Bank of America downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.50 to $5.00 in a research report on Wednesday, February 7th. Royal Bank of Canada reduced their price objective on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Compass Point cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $8.00 in a research note on Thursday, February 1st. Finally, Piper Sandler upgraded shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Price Performance

The stock has a 50-day simple moving average of $3.36 and a 200 day simple moving average of $7.02. The company has a market cap of $2.82 billion, a PE ratio of 353.00 and a beta of 0.95. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business had revenue of $633.00 million during the quarter, compared to analyst estimates of $776.81 million. During the same period last year, the business posted $0.23 earnings per share. The company’s quarterly revenue was down 76.1% on a year-over-year basis. Equities analysts expect that New York Community Bancorp, Inc. will post -0.08 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, June 7th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 2,000.00%.

Insiders Place Their Bets

In related news, Director Peter Schoels purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $4.15 per share, with a total value of $415,000.00. Following the completion of the acquisition, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Lee Matthew Smith bought 25,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the transaction, the executive vice president now owns 1,440,683 shares of the company’s stock, valued at $5,834,766.15. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Schoels purchased 100,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in New York Community Bancorp by 3,583.0% in the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 8,026 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of New York Community Bancorp during the 3rd quarter worth $28,000. Loomis Sayles & Co. L P purchased a new stake in shares of New York Community Bancorp in the 3rd quarter worth about $29,000. Naples Money Management LLC acquired a new stake in New York Community Bancorp in the 4th quarter valued at about $30,000. Finally, FinTrust Capital Advisors LLC increased its holdings in New York Community Bancorp by 66.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 3,876 shares in the last quarter. 67.88% of the stock is currently 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.