New York Community Bancorp, Inc. (NYSE:NYCB) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 52,360,497 shares, a growth of 6.8% from the May 31st total of 49,024,857 shares. Currently, 11.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,469,997 shares, the short-interest ratio is presently 11.7 days.
Shares of NYCB opened at $11.12 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.13. New York Community Bancorp has a 12-month low of $11.04 and a 12-month high of $14.53. The stock has a market capitalization of $5.52 billion, a P/E ratio of 13.73, a PEG ratio of 1.39 and a beta of 0.67.
New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.20. New York Community Bancorp had a net margin of 26.12% and a return on equity of 6.81%. The firm had revenue of $293.16 million during the quarter, compared to analyst estimates of $295.51 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. New York Community Bancorp’s quarterly revenue was down 10.4% on a year-over-year basis. equities research analysts anticipate that New York Community Bancorp will post 0.81 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in NYCB. Amundi Pioneer Asset Management Inc. purchased a new position in New York Community Bancorp during the fourth quarter worth about $9,636,000. Cullen Frost Bankers Inc. purchased a new position in New York Community Bancorp during the first quarter worth about $146,000. Russell Investments Group Ltd. boosted its stake in New York Community Bancorp by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 4,871,479 shares of the financial services provider’s stock worth $63,472,000 after buying an additional 92,891 shares during the period. Hsbc Holdings PLC boosted its stake in New York Community Bancorp by 48.8% during the first quarter. Hsbc Holdings PLC now owns 119,009 shares of the financial services provider’s stock worth $1,551,000 after buying an additional 39,034 shares during the period. Finally, Dynamic Capital Management Ltd purchased a new position in New York Community Bancorp during the fourth quarter worth about $1,210,000. 65.03% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on NYCB shares. UBS Group started coverage on shares of New York Community Bancorp in a research report on Wednesday, March 21st. They issued a “sell” rating and a $12.00 target price for the company. ValuEngine cut shares of New York Community Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. TheStreet cut shares of New York Community Bancorp from a “b-” rating to a “c” rating in a research report on Thursday, March 22nd. Sandler O’Neill reiterated a “buy” rating and issued a $16.00 target price on shares of New York Community Bancorp in a research report on Monday, March 26th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $12.00 target price on shares of New York Community Bancorp in a research report on Thursday, April 26th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $12.95.
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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