Shares of New York Community Bancorp, Inc. (NYSE:NYCB – Get Free Report) traded down 2.4% during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $5.00 to $4.00. Royal Bank of Canada currently has a sector perform rating on the stock. New York Community Bancorp traded as low as $3.19 and last traded at $3.21. 4,836,223 shares were traded during trading, a decline of 87% from the average session volume of 37,461,707 shares. The stock had previously closed at $3.29.
Other equities research analysts also recently issued research reports about the stock. Citigroup reduced their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Morgan Stanley reduced 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. JPMorgan Chase & Co. downgraded shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $11.50 to $5.50 in a research note on Wednesday, February 7th. Wedbush reduced their price target on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating on the stock in a research note on Thursday, March 7th. Finally, UBS Group downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, New York Community Bancorp presently has an average rating of “Hold” and a consensus target price of $5.43.
Insider Buying and Selling
In related news, Director Marshall Lux bought 27,100 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the purchase, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other New York Community Bancorp news, Director Marshall Lux purchased 27,100 shares of New York Community Bancorp stock in a transaction on Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the transaction, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, the chief executive officer now directly owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders purchased 213,410 shares of company stock worth $875,626 in the last three months. Corporate insiders own 1.62% of the company’s stock.
Hedge Funds Weigh In On New York Community Bancorp
A number of institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings 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 worth $27,000 after acquiring an additional 8,026 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in New York Community Bancorp in the 2nd quarter worth $27,000. Orion Capital Management LLC purchased a new stake in New York Community Bancorp in the 3rd quarter worth $28,000. Loomis Sayles & Co. L P purchased a new stake in New York Community Bancorp in the 3rd quarter worth $29,000. Finally, Lazard Asset Management LLC purchased a new stake in New York Community Bancorp in the 4th quarter worth $29,000. 67.88% of the stock is owned by hedge funds and other institutional investors.
New York Community Bancorp Stock Performance
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’s fifty day moving average is $4.18 and its 200 day moving average is $8.03. The company has a market cap of $2.57 billion, a PE ratio of 0.97, a price-to-earnings-growth ratio of 4.41 and a beta of 0.92.
New York Community Bancorp (NYSE:NYCB – Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.56). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period in the previous year, the firm posted $0.25 EPS. As a group, research analysts predict that New York Community Bancorp, Inc. will post 0.07 EPS for the current fiscal year.
New York Community Bancorp Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a $0.05 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 6.21%. New York Community Bancorp’s payout ratio is currently 6.01%.
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.