New York Community Bancorp (NYSE:NYCB) Stock Price Up 1.8%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price rose 1.8% during mid-day trading on Wednesday . The company traded as high as $3.46 and last traded at $3.38. Approximately 3,170,430 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 29,184,291 shares. The stock had previously closed at $3.32.

Analyst Ratings Changes

Several research firms have weighed in on NYCB. Barclays began coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an “equal weight” rating and a $4.00 price target on the stock. Wedbush raised New York Community Bancorp from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $3.00 to $3.50 in a research report on Wednesday, May 1st. Piper Sandler raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target on the stock in a research report on Wednesday, May 1st. Raymond James lowered New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Monday, March 18th. Finally, Royal Bank of Canada lowered their price target 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. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, New York Community Bancorp has an average rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Price Performance

The company has a 50 day moving average of $3.26 and a 200-day moving average of $5.77. The firm has a market capitalization of $2.50 billion, a P/E ratio of 314.00 and a beta of 0.98. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 3.39.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. The business had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. The firm’s quarterly revenue was down 76.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. On average, sell-side analysts predict that New York Community Bancorp, Inc. will post -0.49 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be issued a $0.01 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.04 annualized dividend and a yield of 1.31%. New York Community Bancorp’s dividend payout ratio is presently 400.00%.

Insider Buying and Selling at New York Community Bancorp

In related news, Director Marshall Lux acquired 27,100 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $3.69 per share, with a total value of $99,999.00. Following the acquisition, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On New York Community Bancorp

Institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of New York Community Bancorp by 24.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,726 shares of the financial services provider’s stock worth $458,000 after buying an additional 8,817 shares in the last quarter. International Assets Investment Management LLC increased its holdings in New York Community Bancorp by 1,237.8% in the 4th quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock worth $47,324,000 after purchasing an additional 447,937 shares in the last quarter. Nordea Investment Management AB acquired a new position in New York Community Bancorp in the 4th quarter worth about $1,755,000. AQR Capital Management LLC increased its holdings in New York Community Bancorp by 212.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock worth $22,444,000 after purchasing an additional 1,348,601 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in New York Community Bancorp by 79.2% in the 4th quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 47,996 shares in the last quarter. Institutional investors and hedge funds 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.