Traders Purchase Large Volume of New York Community Bancorp Put Options (NYCB)

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New York Community Bancorp, Inc. (NYSE:NYCB) was the recipient of some unusual options trading on Wednesday. Investors acquired 2,577 put options on the stock. This represents an increase of approximately 2,243% compared to the average daily volume of 110 put options.

In other New York Community Bancorp news, Director Dominick Ciampa bought 34,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was purchased at an average price of $11.61 per share, for a total transaction of $394,740.00. Following the purchase, the director now directly owns 7,508 shares in the company, valued at $87,167.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.17% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its stake in New York Community Bancorp by 20.1% during the 4th quarter. Advisory Services Network LLC now owns 5,960 shares of the financial services provider’s stock worth $56,000 after buying an additional 999 shares during the period. Greenwich Wealth Management LLC raised its stake in New York Community Bancorp by 11.1% during the 4th quarter. Greenwich Wealth Management LLC now owns 12,872 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,290 shares during the period. First Mercantile Trust Co. raised its stake in New York Community Bancorp by 129.6% during the 4th quarter. First Mercantile Trust Co. now owns 3,100 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,750 shares during the period. ETF Managers Group LLC raised its stake in New York Community Bancorp by 21.4% during the 4th quarter. ETF Managers Group LLC now owns 10,492 shares of the financial services provider’s stock worth $99,000 after buying an additional 1,847 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in New York Community Bancorp by 13.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,861 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,925 shares during the period. Institutional investors and hedge funds own 68.10% of the company’s stock.

Several research firms have commented on NYCB. Zacks Investment Research raised New York Community Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, March 19th. Jefferies Financial Group started coverage on New York Community Bancorp in a report on Monday, April 8th. They issued a “hold” rating and a $12.00 target price for the company. B. Riley reissued a “neutral” rating on shares of New York Community Bancorp in a report on Wednesday, April 10th. UBS Group raised New York Community Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $10.00 to $15.00 in a report on Wednesday, February 6th. Finally, Morgan Stanley cut New York Community Bancorp from an “equal weight” rating to an “underweight” rating and set a $11.50 target price for the company. in a report on Monday, March 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $11.95.

NYSE NYCB opened at $11.41 on Thursday. The company has a market cap of $5.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. New York Community Bancorp has a one year low of $8.61 and a one year high of $13.07. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.35 and a current ratio of 1.35.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. The business had revenue of $270.31 million for the quarter, compared to analyst estimates of $270.24 million. New York Community Bancorp had a return on equity of 6.76% and a net margin of 23.72%. During the same period in the prior year, the company earned $0.26 EPS. Analysts forecast that New York Community Bancorp will post 0.81 earnings per share for the current fiscal year.

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About New York Community Bancorp

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

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