Stock Traders Purchase High Volume of Put Options on New York Community Bancorp (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) was the target of unusually large options trading on Monday. Investors acquired 104,908 put options on the stock. This is an increase of 121% compared to the typical volume of 47,550 put options.

Analysts Set New Price Targets

A number of research firms have weighed in on NYCB. Barclays reduced their price objective on shares of New York Community Bancorp from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Monday. Piper Sandler raised shares of 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 note on Wednesday, May 1st. Wedbush upgraded New York Community Bancorp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Royal Bank of Canada reduced their target price on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Two research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.39.

New York Community Bancorp Trading Up 1.3 %

Shares of NYCB stock opened at $3.10 on Tuesday. 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 has a twelve month low of $1.70 and a twelve month high of $14.22. The company’s 50-day moving average price is $3.26 and its 200-day moving average price is $5.40. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 310.00 and a beta of 0.98.

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

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, June 7th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, June 7th. This represents a $0.04 annualized dividend and a yield of 1.29%. New York Community Bancorp’s dividend payout ratio (DPR) is 400.00%.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of New York Community Bancorp by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after purchasing an additional 4,723,876 shares during the last quarter. Norges Bank purchased a new stake in shares of New York Community Bancorp in the 4th quarter valued at approximately $77,628,000. Kahn Brothers Group Inc. lifted its holdings in shares of New York Community Bancorp by 0.9% in 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 acquiring an additional 53,275 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of New York Community Bancorp by 154.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after purchasing an additional 3,114,070 shares during the period. Finally, Cannell & Co. boosted its position in shares of New York Community Bancorp by 12.3% during the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock worth $46,793,000 after purchasing an additional 500,545 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About New York Community Bancorp

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.