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 in 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. Approximately 12.6% of the company’s stock are sold short.

Institutional Investors Weigh In On New York Community Bancorp

Several large investors have recently added to or reduced their stakes in NYCB. Hantz Financial Services Inc. acquired a new position in shares of New York Community Bancorp during the second quarter valued at $28,000. Atlas Capital Advisors LLC acquired a new position in shares of New York Community Bancorp during the second quarter valued at $102,000. Signaturefd LLC increased its holdings in shares of New York Community Bancorp by 2.2% during the second quarter. Signaturefd LLC now owns 155,921 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 3,365 shares during the period. TrueMark Investments LLC acquired a new position in shares of New York Community Bancorp during the second quarter valued at $1,173,000. Finally, HB Wealth Management LLC acquired a new position in shares of New York Community Bancorp during the second quarter valued at $46,000. 67.88% of the stock is owned by institutional investors and hedge funds.

New York Community Bancorp Stock Performance

NYSE NYCB traded up $0.13 during trading hours on Tuesday, hitting $10.61. The company had a trading volume of 5,034,680 shares, compared to its average volume of 9,229,139. New York Community Bancorp has a fifty-two week low of $5.10 and a fifty-two week high of $42.09. 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 business has a fifty day simple moving average of $5.08 and a 200-day simple moving average of $4.81. The firm has a market cap of $2.90 billion, a P/E ratio of 349.33 and a beta of 0.99.

Shares of New York Community Bancorp are set to reverse split 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 issued its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $722.47 million. During the same period in the prior year, the business earned $4.23 earnings per share. New York Community Bancorp’s quarterly revenue was down 44.2% on a year-over-year basis. Equities analysts predict that New York Community Bancorp will post -1.33 EPS for the current year.

New York Community Bancorp Cuts Dividend

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

Analysts Set New Price Targets

NYCB has been the subject of several research analyst reports. Barclays increased 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 note on Monday. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods increased their target price on 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. Royal Bank of Canada reduced their target price on New York Community Bancorp from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Finally, Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $12.00 target price for the company in a research note on Wednesday, May 1st. Two 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.91.

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.