Short Interest in New York Community Bank (NYCB) Rises By 7.4%

New York Community Bank (NYSE:NYCB) saw a large growth in short interest in the month of March. As of March 29th, there was short interest totalling 50,528,900 shares, a growth of 7.4% from the March 15th total of 47,047,556 shares. Based on an average daily volume of 6,251,804 shares, the days-to-cover ratio is currently 8.1 days. Currently, 10.6% of the company’s shares are sold short.

Several research firms have commented on NYCB. ValuEngine downgraded New York Community Bank from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Zacks Investment Research downgraded New York Community Bank from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. TheStreet downgraded New York Community Bank from a “b-” rating to a “c+” rating in a report on Tuesday, January 16th. Sandler O’Neill restated a “buy” rating and set a $16.00 price objective on shares of New York Community Bank in a report on Monday, March 26th. Finally, Morgan Stanley raised their price objective on New York Community Bank from $14.00 to $14.75 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $13.48.

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Several large investors have recently made changes to their positions in the company. Comerica Bank increased its holdings in shares of New York Community Bank by 1.0% in the 4th quarter. Comerica Bank now owns 431,082 shares of the financial services provider’s stock valued at $5,983,000 after acquiring an additional 4,154 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of New York Community Bank by 3.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 146,687 shares of the financial services provider’s stock valued at $1,891,000 after acquiring an additional 4,271 shares during the period. Grimes & Company Inc. increased its holdings in shares of New York Community Bank by 29.2% in the 4th quarter. Grimes & Company Inc. now owns 22,536 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 5,094 shares during the period. Amalgamated Bank increased its holdings in shares of New York Community Bank by 6.0% in the 4th quarter. Amalgamated Bank now owns 96,291 shares of the financial services provider’s stock valued at $1,254,000 after acquiring an additional 5,462 shares during the period. Finally, Sapphire Star Partners LP increased its holdings in shares of New York Community Bank by 49.4% in the 4th quarter. Sapphire Star Partners LP now owns 18,000 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 5,955 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s stock.

Shares of NYSE:NYCB opened at $12.69 on Tuesday. New York Community Bank has a 12-month low of $11.67 and a 12-month high of $14.53. The firm has a market capitalization of $6,215.92, a PE ratio of 15.67, a P/E/G ratio of 1.48 and a beta of 0.65. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.05.

New York Community Bank (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. New York Community Bank had a return on equity of 6.81% and a net margin of 25.91%. The business had revenue of $296.32 million for the quarter, compared to the consensus estimate of $300.29 million. equities research analysts forecast that New York Community Bank will post 0.86 EPS for the current year.

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About New York Community Bank

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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