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 some unusual options trading on Tuesday. Traders acquired 30,731 put options on the stock. This is an increase of 111% compared to the typical volume of 14,598 put options.

Institutional Trading of New York Community Bancorp

Several institutional investors have recently modified their holdings of the company. Legacy Capital Group California Inc. raised its position in shares of New York Community Bancorp by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 934 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of New York Community Bancorp by 6.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,146 shares during the period. CIBC Asset Management Inc raised its position in shares of New York Community Bancorp by 7.6% during the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,436 shares during the period. Family Asset Management LLC raised its position in shares of New York Community Bancorp by 9.2% during the second quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,510 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of New York Community Bancorp by 4.4% during the second quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,544 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NYCB. Citigroup increased their price objective on 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. Wedbush reiterated a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised their price target 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 raised their price target on New York Community Bancorp from $12.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.91.

New York Community Bancorp Stock Performance

NYSE:NYCB traded down $0.76 during midday trading on Tuesday, reaching $9.90. 7,626,764 shares of the company traded hands, compared to its average volume of 8,641,952. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $36.54. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 331.33 and a beta of 1.00. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17. The company has a fifty day moving average price of $15.76 and a 200 day moving average price of $12.06.

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 (EPS) 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 analyst estimates of $722.47 million. During the same quarter last year, the firm posted $4.23 EPS. The company’s revenue was down 44.2% compared to the same quarter last year. On average, analysts expect that New York Community Bancorp will post -2.45 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Saturday, September 7th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 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.