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

New York Community Bancorp, Inc. (NYSE:NYCB) was the target of unusually large options trading activity on Friday. Stock investors acquired 17,025 put options on the company. This is an increase of 34% compared to the typical volume of 12,674 put options.

Wall Street Analyst Weigh In

NYCB has been the subject of a number of recent research reports. Wedbush reissued a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a research note on Friday, July 26th. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $10.00 to $14.00 in a research note on Thursday, September 26th. StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Citigroup raised their target price on shares of New York Community Bancorp from $10.50 to $12.00 and gave the stock 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 research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Stock Down 8.1 %

Shares of NYCB opened at $10.57 on Friday. The firm has a market cap of $4.39 billion, a PE ratio of -3.83 and a beta of 1.00. The company’s fifty day moving average is $11.11 and its two-hundred day moving average is $12.17. New York Community Bancorp has a fifty-two week low of $5.10 and a fifty-two week high of $34.47. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last announced 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 return on equity of 4.49% and a negative net margin of 10.78%. The business had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. During the same period last year, the company posted $4.23 earnings per share. The firm’s revenue for the quarter was down 44.2% on a year-over-year basis. Analysts forecast that New York Community Bancorp will post -2.41 earnings per share for the current year.

New York Community Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Saturday, December 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. New York Community Bancorp’s dividend payout ratio (DPR) is -1.45%.

Institutional Trading of New York Community Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in New York Community Bancorp by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,654,656 shares of the financial services provider’s stock worth $31,088,000 after purchasing an additional 844,785 shares during the period. Kahn Brothers Group Inc. boosted its position 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 period. Renaissance Technologies LLC boosted its position in New York Community Bancorp by 995.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock worth $13,256,000 after purchasing an additional 3,740,900 shares during the period. Private Management Group Inc. lifted its holdings in New York Community Bancorp by 69.4% in the 2nd quarter. Private Management Group Inc. now owns 3,216,505 shares of the financial services provider’s stock worth $10,357,000 after buying an additional 1,317,391 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in New York Community Bancorp by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 2,718,179 shares of the financial services provider’s stock worth $8,753,000 after buying an additional 66,219 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.