New York Community Bancorp, Inc. (NYSE:NYCB) Sees Significant Drop in Short Interest

New York Community Bancorp, Inc. (NYSE:NYCB) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 47,568,600 shares, a decrease of 8.1% from the June 30th total of 51,753,800 shares. Currently, 10.4% of the company’s shares are sold short. Based on an average daily trading volume, of 5,260,000 shares, the days-to-cover ratio is currently 9.0 days.

Shares of NYSE NYCB traded down $0.04 during mid-day trading on Thursday, reaching $11.13. 2,897,800 shares of the company’s stock were exchanged, compared to its average volume of 5,418,079. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.46 and a beta of 1.00. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.31 and a current ratio of 1.30. New York Community Bancorp has a 52-week low of $8.61 and a 52-week high of $12.72. The company’s 50-day moving average is $10.75 and its 200-day moving average is $11.16.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $255.29 million during the quarter, compared to analysts’ expectations of $255.49 million. New York Community Bancorp had a return on equity of 6.52% and a net margin of 21.73%. During the same period in the prior year, the business posted $0.20 EPS. As a group, equities analysts predict that New York Community Bancorp will post 0.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Friday, August 9th. New York Community Bancorp’s dividend payout ratio is presently 86.08%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC acquired a new stake in New York Community Bancorp in the 2nd quarter valued at about $12,988,000. UBS Asset Management Americas Inc. raised its position in New York Community Bancorp by 7.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 814,988 shares of the financial services provider’s stock valued at $8,134,000 after purchasing an additional 56,708 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in New York Community Bancorp in the 2nd quarter valued at about $9,326,000. Point72 Hong Kong Ltd raised its position in New York Community Bancorp by 5.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 33,456 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in New York Community Bancorp by 3,155.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 659,110 shares of the financial services provider’s stock valued at $6,578,000 after purchasing an additional 638,861 shares in the last quarter. Institutional investors and hedge funds own 63.03% of the company’s stock.

Several analysts have issued reports on NYCB shares. Bank of America set a $13.00 target price on New York Community Bancorp and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upgraded New York Community Bancorp from an “underweight” rating to a “neutral” rating and upped their target price for the company from $9.50 to $11.50 in a report on Thursday, August 1st. TheStreet cut New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Thursday, June 13th. B. Riley set a $13.00 target price on New York Community Bancorp and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Sandler O’Neill cut New York Community Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. New York Community Bancorp currently has a consensus rating of “Hold” and a consensus target price of $12.20.

New York Community Bancorp Company Profile

New York Community Bancorp, Inc operates as a bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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