New York Community Bancorp Sees Unusually High Options Volume (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) was the recipient of some unusual options trading on Monday. Stock traders purchased 31,848 call options on the stock. This is an increase of 82% compared to the typical daily volume of 17,522 call options.

New York Community Bancorp Stock Up 1.5 %

Shares of NYCB opened at $11.21 on Tuesday. The firm has a market cap of $3.94 billion, a P/E ratio of 373.67 and a beta of 0.99. New York Community Bancorp has a 12 month low of $5.10 and a 12 month high of $37.41. The stock’s 50 day moving average is $15.35 and its two-hundred day moving average is $12.44. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The company had revenue of $671.00 million during the quarter, compared to analyst estimates of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. New York Community Bancorp’s revenue was down 44.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.23 EPS. Analysts predict that New York Community Bancorp will post -2.45 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Saturday, September 7th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 400.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of New York Community Bancorp by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 9,654,656 shares of the financial services provider’s stock valued at $31,088,000 after acquiring an additional 844,785 shares during the last quarter. Norges Bank purchased a new position in New York Community Bancorp in the 4th quarter valued at $77,628,000. Kahn Brothers Group Inc. boosted its stake in New York Community Bancorp by 0.9% during the 1st quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock worth $20,007,000 after purchasing an additional 53,275 shares during the last quarter. Cannell & Co. grew its holdings in shares of New York Community Bancorp by 12.3% during the fourth quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock worth $46,793,000 after buying an additional 500,545 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of New York Community Bancorp by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider’s stock valued at $46,579,000 after buying an additional 33,122 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on NYCB. Keefe, Bruyette & Woods lifted their price target on New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research report on Monday, July 15th. Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $12.00 target price on the stock in a research report on Wednesday, May 1st. Barclays raised their price target on shares of New York Community Bancorp from $12.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Finally, Wedbush reissued a “neutral” rating and set a $31.50 target price on shares of New York Community Bancorp in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, New York Community Bancorp has a consensus rating of “Hold” and an average target price of $18.91.

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.