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

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

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its holdings in New York Community Bancorp by 57.8% during the second quarter. Captrust Financial Advisors now owns 2,730 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,000 shares during the last quarter. TCI Wealth Advisors Inc. raised its holdings in New York Community Bancorp by 52.0% during the second quarter. TCI Wealth Advisors Inc. now owns 4,259 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,457 shares during the last quarter. Quantamental Technologies LLC acquired a new position in New York Community Bancorp during the second quarter worth $61,000. Advisory Services Network LLC raised its holdings in New York Community Bancorp by 18.1% during the second quarter. Advisory Services Network LLC now owns 6,933 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,063 shares during the last quarter. Finally, TRUE Private Wealth Advisors acquired a new position in New York Community Bancorp during the second quarter worth $85,000. 63.03% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on NYCB shares. B. Riley set a $13.00 price target on New York Community Bancorp and gave the company a “buy” rating in a research note on Wednesday, July 31st. Sandler O’Neill downgraded New York Community Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Royal Bank of Canada started coverage on New York Community Bancorp in a research note on Friday, July 12th. They issued an “outperform” rating and a $12.00 price target on the stock. Bank of America set a $13.00 price target on New York Community Bancorp and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upgraded New York Community Bancorp from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $9.50 to $11.50 in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.20.

Shares of New York Community Bancorp stock traded down $0.04 during trading on Thursday, reaching $11.13. The company’s stock had a trading volume of 2,897,800 shares, compared to its average volume of 5,418,079. The company has a quick ratio of 1.31, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. New York Community Bancorp has a 12-month low of $8.61 and a 12-month high of $12.72. The company has a market capitalization of $5.31 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00. The business has a 50 day moving average price of $10.75 and a 200-day moving average price of $11.16.

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

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

About New York Community Bancorp

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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