Stock Traders Buy Large Volume of Call Options on New York Community Bancorp (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) was the recipient of unusually large options trading on Monday. Investors bought 20,137 call options on the company. This represents an increase of 60% compared to the typical volume of 12,574 call options.

New York Community Bancorp Trading Up 5.2 %

Shares of NYCB stock opened at $12.01 on Wednesday. New York Community Bancorp has a 12-month low of $5.10 and a 12-month high of $35.04. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. The company has a 50 day moving average of $15.83 and a 200-day moving average of $11.95. The firm has a market cap of $3.29 billion, a P/E ratio of 400.33 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The company had revenue of $671.00 million during the quarter, compared to the consensus estimate of $722.47 million. During the same period in the previous year, the business earned $4.23 earnings per share. New York Community Bancorp’s revenue was down 44.2% on a year-over-year basis. Sell-side analysts anticipate that New York Community Bancorp will post -2.43 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were issued a $0.01 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. New York Community Bancorp’s payout ratio is 133.33%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NYCB. Wedbush reissued a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a research note on Friday, July 26th. StockNews.com raised New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Barclays boosted their target price on 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. Citigroup increased their price target on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.91.

Hedge Funds Weigh In On New York Community Bancorp

Large investors have recently added to or reduced their stakes in the business. Legacy Capital Group California Inc. grew its position in New York Community Bancorp by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 934 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in New York Community Bancorp by 6.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,146 shares during the period. CIBC Asset Management Inc raised its position in New York Community Bancorp by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,436 shares during the last quarter. Family Asset Management LLC lifted its holdings in New York Community Bancorp by 9.2% in the 2nd quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock worth $58,000 after buying an additional 1,510 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of New York Community Bancorp by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,544 shares during the last quarter. Hedge funds and other institutional investors 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.