Stock Traders Buy Large Volume of Call 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. Stock traders acquired 20,137 call options on the stock. This is an increase of 60% compared to the average daily volume of 12,574 call options.

Hedge Funds Weigh In On New York Community Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of 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 in the last quarter. Norges Bank acquired a new position in New York Community Bancorp during the 4th quarter worth approximately $77,628,000. Kahn Brothers Group Inc. boosted its holdings in New York Community Bancorp by 0.9% in the first 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $46,579,000 after acquiring an additional 33,122 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in New York Community Bancorp by 995.2% in the second quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock valued at $13,256,000 after acquiring an additional 3,740,900 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NYCB shares. 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 report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their price objective on New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research note on Monday, July 15th. Barclays upped their target price on New York Community Bancorp from $12.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Finally, Wedbush reaffirmed 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. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, New York Community Bancorp presently has a consensus rating of “Hold” and an average target price of $18.91.

New York Community Bancorp Trading Up 7.7 %

NYSE:NYCB traded up $0.82 during trading hours on Monday, hitting $11.42. 9,944,045 shares of the company were exchanged, compared to its average volume of 8,666,086. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 380.33 and a beta of 1.00. New York Community Bancorp has a one year low of $5.10 and a one year high of $35.04. The company has a fifty day simple moving average of $15.77 and a 200 day simple moving average of $11.96. 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 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). The firm had revenue of $671.00 million for 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%. The business’s revenue for the quarter was down 44.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.23 EPS. Sell-side analysts expect that New York Community Bancorp will post -2.43 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Saturday, September 7th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, September 6th. This represents a $0.04 annualized dividend and a yield of 0.35%. New York Community Bancorp’s dividend payout ratio is currently 133.33%.

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.