New York Community Bancorp, Inc. (NYSE:NYCB) Short Interest Update

New York Community Bancorp, Inc. (NYSE:NYCB) was the recipient of a significant increase in short interest in 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 currently 6.3 days. Currently, 12.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NYCB. Versant Capital Management Inc increased its stake in shares of New York Community Bancorp by 3,583.0% during the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after buying an additional 8,026 shares during the period. AlphaMark Advisors LLC boosted its position in New York Community Bancorp by 26.0% during 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 in the last quarter. Naples Money Management LLC purchased a new position in shares of New York Community Bancorp during the 4th quarter worth approximately $30,000. FinTrust Capital Advisors LLC grew its holdings in shares of New York Community Bancorp by 66.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 3,876 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of New York Community Bancorp by 4,665.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,530 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 9,330 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Price Performance

NYSE NYCB traded up $0.61 on Friday, reaching $11.22. 7,304,639 shares of the company’s stock traded hands, compared to its average volume of 8,515,661. The stock has a market cap of $3.07 billion, a PE ratio of 374.00 and a beta of 0.99. New York Community Bancorp has a 12 month low of $5.10 and a 12 month high of $42.66. The stock has a 50-day simple moving average of $4.95 and a 200 day simple moving average of $4.80. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.26.

New York Community Bancorp’s stock is set 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 market closes on Tuesday, July 30th.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Thursday, July 25th. The financial services provider reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.63). The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The firm’s quarterly revenue was down 44.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 earnings per share. As a group, research analysts predict that New York Community Bancorp will post -1.33 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were paid a $0.01 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. New York Community Bancorp’s payout ratio is presently 400.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NYCB. Citigroup increased their target price on New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price for the company in a research report on Wednesday, May 1st. Wedbush reaffirmed a “neutral” rating and issued a $10.50 price target on shares of New York Community Bancorp in a research report on Friday. Royal Bank of Canada decreased their price objective on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods raised their target price on New York Community Bancorp from $3.75 to $11.25 and gave the company a “market perform” rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.88.

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.