New York Community Bancorp (NYSE:NYCB) Upgraded at StockNews.com

StockNews.com upgraded shares of New York Community Bancorp (NYSE:NYCB) to a sell rating in a report published on Monday morning.

Other equities analysts also recently issued research reports about the company. 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 on the stock in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft downgraded New York Community Bancorp from a buy rating to a hold rating and reduced their price objective for the stock from $15.00 to $7.00 in a research report on Friday, February 2nd. TheStreet downgraded New York Community Bancorp from a b- rating to a c+ rating in a research report on Monday, February 5th. Raymond James downgraded New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 target price on the stock. in a research report on Monday, March 18th. Finally, Keefe, Bruyette & Woods downgraded New York Community Bancorp from an outperform rating to a market perform rating and reduced their target price for the company from $14.00 to $12.00 in a research report on Monday, December 18th. Three research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $5.43.

New York Community Bancorp Stock Performance

Shares of NYSE:NYCB opened at $2.92 on Monday. New York Community Bancorp has a 1 year low of $1.70 and a 1 year high of $14.22. The firm has a market capitalization of $2.33 billion, a PE ratio of 0.88, a P/E/G ratio of 31.60 and a beta of 0.92. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The business’s 50 day moving average price is $3.80 and its 200-day moving average price is $7.74.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter in the previous year, the business posted $0.25 EPS. As a group, equities research analysts expect that New York Community Bancorp will post 0.01 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 6.86%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s payout ratio is 6.01%.

Insider Buying and Selling

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the acquisition, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Lee Matthew Smith purchased 25,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the acquisition, the executive vice president now directly owns 1,440,683 shares in the company, valued at $5,834,766.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 213,410 shares of company stock valued at $875,626. Corporate insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in shares of 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 acquiring an additional 8,026 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of New York Community Bancorp in the 2nd quarter valued at about $27,000. Orion Capital Management LLC purchased a new position in shares of New York Community Bancorp in the 3rd quarter valued at about $28,000. Loomis Sayles & Co. L P purchased a new position in shares of New York Community Bancorp in the 3rd quarter valued at about $29,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of New York Community Bancorp in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.