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New York Community Bancorp (NYSE:NYCB) is trading 1.7% higher

New York Community Bancorp (NYSE:NYCB) is trading 1.7% higher

The shares of New York Community Bancorp, Inc. (NYSE:NYCB – Get Free Report) rose 1.7% on Monday. The stock traded as high as $3.68 and last traded at $3.59. About 6,545,774 shares changed hands during trading, an 81% decline from the average daily volume of 34,034,438 shares. The stock previously closed at $3.53.

Analyst upgrades and downgrades

Several equity research analysts recently weighed in on NYCB stock. Bank of America downgraded New York Community Bancorp from a buy rating to a neutral rating and lowered their price target for the stock from $8.50 to $5.00 in a research note on Wednesday, February 7. JPMorgan Chase & Co. downgraded New York Community Bancorp from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $11.50 to $5.50 in a research note on Wednesday, February 7. DA Davidson downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.50 to $5.00 in a research note on Thursday, February 8. Citigroup lowered their price target on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the stock in a research note on Thursday, March 7. Finally, Morgan Stanley lowered their price target for New York Community Bancorp from $6.00 to $4.00 in a research note on Thursday, March 7. Two equities 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.39.

Check out our latest research report on New York Community Bancorp

New York Community Bancorp stock performance

The company has a fifty-day moving average of $3.36 and a 200-day moving average of $6.97. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 359.00 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 – Get Free Report) last reported its quarterly results on Wednesday, May 1. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $633.00 million during the quarter, compared to analyst expectations of $776.81 million. During the same period last year, the company posted earnings per share of $0.23. The company’s revenue for the quarter fell 76.1% compared to the same quarter last year. As a group, sell-side analysts expect New York Community Bancorp, Inc. will post an earnings per share of -0.34 for the current year.

New York Community Bancorp cuts dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17. Shareholders of record on Friday, June 7 will receive a $0.01 dividend. The ex-dividend date is Thursday, June 6. This represents a dividend of $0.04 annually and a dividend yield of 1.10%. New York Community Bancorp’s dividend payout ratio (DPR) is 2,000.00%.

Insider transactions at New York Community Bancorp

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

Institutional investors are weighing in on New York Community Bancorp

A number of institutional investors have recently increased or decreased their stakes in the company. Texas Permanent School Fund Corp increased its position in shares of New York Community Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 631,944 shares of the financial services provider’s stock worth $2,035,000 after purchasing an additional 8,086 shares during the period. Carson Advisory Inc. bought a new stake in New York Community Bancorp stock worth about $62,000 in the first quarter. Southern Capital Advisors LLC bought a new stake in shares of New York Community Bancorp in the first quarter valued at approximately $129,000. FinTrust Capital Advisors LLC boosted its position in shares of New York Community Bancorp by 66.9% in the first quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 3,876 shares during the period. Finally, Graypoint LLC bought a new stake in New York Community Bancorp stock worth approximately $35,000 in the first quarter. Hedge funds and other institutional investors own 67.88% of the company’s shares.

New York Community Bancorp Company Profile

(Get a free report)

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, NA, which provides banking products and services in the United States. The company’s deposit products include interest-bearing checking and money market accounts, savings accounts, non-interest-bearing accounts and retirement accounts, as well as certificates of deposit.

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