New York Community Bancorp Target of Unusually Large Options Trading (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) was the recipient of some unusual options trading on Friday. Stock traders bought 17,025 put options on the stock. This represents an increase of approximately 34% compared to the average volume of 12,674 put options.

Wall Street Analyst Weigh In

Several brokerages recently commented on NYCB. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $14.00 in a research report on Thursday, September 26th. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their target price on New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Wedbush restated 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. Finally, Keefe, Bruyette & Woods raised their price target on New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.48.

New York Community Bancorp Price Performance

Shares of NYSE NYCB traded down $0.94 during trading hours on Friday, hitting $10.56. 11,683,688 shares of the stock were exchanged, compared to its average volume of 8,316,213. The company’s fifty day simple moving average is $11.12 and its two-hundred day simple moving average is $12.16. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. New York Community Bancorp has a 1-year low of $5.10 and a 1-year high of $34.47. The company has a market cap of $4.39 billion, a PE ratio of -3.83 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) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The company had revenue of $671.00 million during the quarter, compared to analyst estimates of $722.47 million. During the same quarter in the previous year, the business posted $4.23 earnings per share. The company’s revenue for the quarter was down 44.2% on a year-over-year basis. On average, sell-side analysts predict that New York Community Bancorp will post -2.41 EPS for the current year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, September 6th. New York Community Bancorp’s payout ratio is -1.45%.

Hedge Funds Weigh In On New York Community Bancorp

Large investors have recently modified their holdings of the business. Allworth Financial LP bought a new position in shares of New York Community Bancorp during the third quarter worth about $29,000. Alaska Permanent Fund Corp bought a new position in New York Community Bancorp during the 3rd quarter worth approximately $1,018,000. International Assets Investment Management LLC raised its holdings in New York Community Bancorp by 400.1% during the 3rd quarter. International Assets Investment Management LLC now owns 359,424 shares of the financial services provider’s stock worth $4,036,000 after purchasing an additional 287,557 shares during the last quarter. Kessler Investment Group LLC acquired a new position in shares of New York Community Bancorp in the 3rd quarter worth approximately $119,000. Finally, Bfsg LLC bought a new stake in shares of New York Community Bancorp in the 3rd quarter valued at $156,000. 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.