Short Interest in New York Community Bancorp, Inc. (NYSE:NYCB) Increases By 20.9%

New York Community Bancorp, Inc. (NYSE:NYCB) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 38,410,000 shares, an increase of 20.9% from the June 30th total of 31,760,000 shares. Based on an average trading volume of 6,120,000 shares, the days-to-cover ratio is presently 6.3 days. Currently, 12.6% of the company’s shares are sold short.

Institutional Trading of New York Community Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its holdings in shares of New York Community Bancorp by 3,583.0% in the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 8,026 shares during the period. AlphaMark Advisors LLC increased its holdings in shares of New York Community Bancorp by 26.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,803 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of New York Community Bancorp in the 2nd quarter valued at $28,000. Naples Money Management LLC acquired a new position in shares of New York Community Bancorp in the 4th quarter valued at $30,000. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of 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 valued at $31,000 after acquiring an additional 3,876 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $31.50 target price on shares of New York Community Bancorp in a research report on Friday. Citigroup upped their target price 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. Barclays upped their target price on shares of New York Community Bancorp from $12.00 to $30.00 and gave the company an “equal weight” rating 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 $12.00 target price on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.91.

New York Community Bancorp Stock Up 1.2 %

NYSE:NYCB traded up $0.13 during mid-day trading on Tuesday, hitting $10.61. The stock had a trading volume of 5,034,680 shares, compared to its average volume of 9,229,139. The stock has a 50-day simple moving average of $5.08 and a two-hundred day simple moving average of $4.81. The company has a market capitalization of $2.90 billion, a PE ratio of 349.33 and a beta of 0.99. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $42.09. 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’s stock is going to reverse split before the market opens on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 30th.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data 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 company had revenue of $671.00 million for the quarter, compared to analyst estimates of $722.47 million. During the same period in the previous year, the business posted $4.23 EPS. The firm’s revenue for the quarter was down 44.2% compared to the same quarter last year. On average, equities research analysts anticipate that New York Community Bancorp will post -1.33 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, June 7th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.12 dividend on an annualized basis and a yield of 1.13%. New York Community Bancorp’s payout ratio is currently 400.00%.

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.