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

New York Community Bancorp, Inc. (NYSE:NYCB) was the recipient of unusually large 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.

New York Community Bancorp Stock Performance

Shares of NYCB opened at $10.55 on Friday. 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 stock has a market cap of $4.38 billion, a P/E ratio of -3.82 and a beta of 1.00. The business’s 50 day moving average price is $11.11 and its 200-day moving average price is $12.19. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.47.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Friday, October 25th. The financial services provider reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $621.72 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. During the same period in the prior year, the company posted $1.08 earnings per share. Equities research analysts anticipate that New York Community Bancorp will post -2.41 earnings per share for the current fiscal year.

New York Community Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Saturday, December 7th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. New York Community Bancorp’s dividend payout ratio is presently -1.45%.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently made changes to their positions in NYCB. AlphaMark Advisors LLC boosted its stake in New York Community Bancorp by 26.0% during the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,803 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of New York Community Bancorp during the second quarter valued at $28,000. Carmichael Hill & Associates Inc. boosted its position in shares of New York Community Bancorp by 201.0% during the second quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock valued at $29,000 after buying an additional 6,029 shares during the last quarter. Allworth Financial LP bought a new stake in New York Community Bancorp in the 3rd quarter worth about $29,000. Finally, FinTrust Capital Advisors LLC raised its position in New York Community Bancorp by 66.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after buying an additional 3,876 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NYCB. JPMorgan Chase & Co. increased their target price on New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Wedbush reaffirmed a “neutral” rating and issued a $31.50 target price on shares of New York Community Bancorp in a research note on Friday, July 26th. 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, Keefe, Bruyette & Woods upped their price objective on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.48.

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.