Insider Trading Update: New York Community Bancorp Inc (NYCB)

New York Community Bancorp Inc (NYSE:NYCB) insider has recently participated in insider trading activity. Director, CIAMPA DOMINICK bought 10,000 shares for $148,000 via one transaction Feb 11. Following the transaction, the insider now owns 13,182 shares in total, priced at $199048.2as of Friday. Another notable insider trading was done by the same insider on Feb 01. CIAMPA DOMINICK acquired 10,000 shares at an average price of $15.28 for a total of $152,800. Moreover, Rosano Lawrence Jr. carried out a purchase of 24,864 shares at $16.58 each on Dec 02. The transaction amounted to $24,864. Director, Savarese Lawrence J. bought 4,400 shares for $75,108 through one transaction May 04. Following this sale, this insider’s stake in the company comprises 4,500 shares, priced at $67950 as of Friday.

The stock has experienced a total of 11 insider trades in the past three months. These trades include 2 sell activities and 9 buy trades. Furthermore, over the past 12 months, the stock was traded 48 times by insiders. In 2 of these trades, the insider was a seller while an employee of the company was the buyer in forty six instances.

New York Community Bancorp Inc (NYCB) on January 27, 2016 reported non-GAAP earnings of $145.2 million, or $0.31 per diluted share, for the three months ended December 31, 2015 and $502.8 million, or $1.11 per diluted share, for the twelve months ended at that date.

On a GAAP basis (i.e., in accordance with U.S. generally accepted accounting principles), the Company reported a loss of $404.8 million, or $0.87 per diluted share, in the three months ended December 31, 2015 and a loss of $47.2 million, or $0.11 per diluted share, for the full year.

The difference between the Company’s GAAP and non-GAAP earnings was attributable to certain charges and expenses that were incurred in connection with the Company’s October 29th announcement that it had signed a definitive agreement to merge with Astoria Financial Corporation (“Astoria Financial”) in an earnings-accretive transaction, and that it would be engaging in a strategic debt repositioning in the fourth quarter of the year.

During the quarter, the Company prepaid $10.4 billion of wholesale borrowings, which resulted in a one-time after-tax debt repositioning charge of $546.8 million. The repositioning is expected to result in an annual after-tax benefit of approximately $100 million to the Company’s earnings beginning in 2016.

In addition, the Company recorded after-tax merger-related expenses of $3.2 million in the three months ended December 31, 2015.