New York Community Bancorp (NYSE:NYCB) Shares Up 4.2%

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

Wall Street Analysts Forecast Growth

NYCB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $11.50 to $5.50 in a report on Wednesday, February 7th. Morgan Stanley dropped their price target on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. Bank of America downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.50 to $5.00 in a research report on Wednesday, February 7th. Barclays started coverage on shares of New York Community Bancorp in a research report on Friday, March 8th. They issued an “equal weight” rating and a $4.00 target price on the stock. Finally, Royal Bank of Canada reduced their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, New York Community Bancorp currently has an average rating of “Hold” and an average price target of $5.39.

New York Community Bancorp Stock Up 4.7 %

The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 353.00 and a beta of 0.95. The firm’s 50 day simple moving average is $3.36 and its 200-day simple moving average is $6.99. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. The firm had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. New York Community Bancorp’s revenue was down 76.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, sell-side analysts anticipate that New York Community Bancorp, Inc. will post -0.34 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.04 annualized dividend and a yield of 1.13%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 2,000.00%.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, Director Peter Schoels acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the purchase, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Marshall Lux acquired 27,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $3.69 per share, with a total value of $99,999.00. Following the purchase, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Schoels bought 100,000 shares of the stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the purchase, the director now owns 147,438 shares in the company, valued at $611,867.70. The disclosure for this purchase can be found here. Insiders bought a total of 213,410 shares of company stock worth $875,626 in the last ninety days. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On New York Community Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in NYCB. Commonwealth Equity Services LLC lifted its position in shares of New York Community Bancorp by 10.4% during the third quarter. Commonwealth Equity Services LLC now owns 311,898 shares of the financial services provider’s stock worth $3,537,000 after purchasing an additional 29,426 shares in the last quarter. Raymond James & Associates raised its position in shares of New York Community Bancorp by 6.9% during the third quarter. Raymond James & Associates now owns 877,182 shares of the financial services provider’s stock worth $9,947,000 after purchasing an additional 56,390 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of New York Community Bancorp by 17.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 393,487 shares of the financial services provider’s stock valued at $4,462,000 after buying an additional 57,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in New York Community Bancorp by 22.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 141,153 shares of the financial services provider’s stock worth $1,601,000 after purchasing an additional 25,788 shares during the period. Finally, Strs Ohio grew its holdings in shares of New York Community Bancorp by 15.2% during the third quarter. Strs Ohio now owns 151,997 shares of the financial services provider’s stock worth $1,723,000 after buying an additional 20,040 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

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.