New York Community Bancorp (NYSE:NYCB) Trading Down 2.6%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price dropped 2.6% during trading on Friday . The company traded as low as $2.98 and last traded at $2.99. Approximately 3,193,082 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 33,958,441 shares. The stock had previously closed at $3.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NYCB. Royal Bank of Canada dropped their price objective on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. TheStreet cut New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Monday, February 5th. Wedbush dropped their target price on New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a research report on Thursday, March 7th. Bank of America cut New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.50 to $5.00 in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Three research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.43.

New York Community Bancorp Stock Down 3.3 %

The company’s 50 day simple moving average is $3.51 and its 200-day simple moving average is $7.26. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The firm has a market cap of $2.37 billion, a P/E ratio of 0.89 and a beta of 0.91.

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 for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. During the same quarter last year, the company earned $0.25 EPS. Research analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.73%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s payout ratio is currently 6.01%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On New York Community Bancorp

Large investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of New York Community Bancorp during the 3rd quarter valued at $28,000. Loomis Sayles & Co. L P purchased a new stake in New York Community Bancorp during the 3rd quarter valued at approximately $29,000. Naples Money Management LLC bought a new stake in New York Community Bancorp in the 4th quarter valued at $30,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of New York Community Bancorp in the third quarter worth about $35,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of New York Community Bancorp during the 4th quarter valued at approximately $40,000. Hedge funds and other 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.