Investing

Unusual Call Option Trade in New York Community Bancorp Worth $107.91K

On May 17, 2023 at 12:13:53 ET an unusually large $107.91K block of Call contracts in New York Community Bancorp (NYCB) was sold, with a strike price of $13.00 / share, expiring in 212 day(s) (on December 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.17 sigmas above the mean, placing it in the 87.80th percentile of all recent large trades made in NYCB options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 897 funds or institutions reporting positions in New York Community Bancorp. This is an increase of 13 owner(s) or 1.47% in the last quarter. Average portfolio weight of all funds dedicated to NYCB is 0.20%, an increase of 45.08%. Total shares owned by institutions increased in the last three months by 11.63% to 486,144K shares. The put/call ratio of NYCB is 1.30, indicating a bearish outlook.

Analyst Price Forecast Suggests 18.51% Upside

As of May 11, 2023, the average one-year price target for New York Community Bancorp is 12.06. The forecasts range from a low of 10.10 to a high of $13.65. The average price target represents an increase of 18.51% from its latest reported closing price of 10.18.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for New York Community Bancorp is 2,201MM, an increase of 48.22%. The projected annual non-GAAP EPS is 1.18.

What are Other Shareholders Doing?

IJH – iShares Core S&P Mid-Cap ETF holds 21,008K shares representing 2.91% ownership of the company. In it’s prior filing, the firm reported owning 13,622K shares, representing an increase of 35.16%. The firm increased its portfolio allocation in NYCB by 35.72% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 19,534K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 13,171K shares, representing an increase of 32.58%. The firm increased its portfolio allocation in NYCB by 38.09% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 16,650K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 11,244K shares, representing an increase of 32.47%. The firm increased its portfolio allocation in NYCB by 38.21% over the last quarter.

DVY – iShares Select Dividend ETF holds 12,061K shares representing 1.67% ownership of the company. In it’s prior filing, the firm reported owning 11,647K shares, representing an increase of 3.43%. The firm increased its portfolio allocation in NYCB by 1.30% over the last quarter.

Wellington Management Group Llp holds 11,898K shares representing 1.65% ownership of the company. In it’s prior filing, the firm reported owning 113K shares, representing an increase of 99.05%. The firm increased its portfolio allocation in NYCB by 1,446.51% over the last quarter.

New York Community Bancorp Declares $0.17 Dividend

On April 25, 2023 the company declared a regular quarterly dividend of $0.17 per share ($0.68 annualized). Shareholders of record as of May 8, 2023 will receive the payment on May 18, 2023. Previously, the company paid $0.17 per share.

At the current share price of $10.18 / share, the stock’s dividend yield is 6.68%.

Looking back five years and taking a sample every week, the average dividend yield has been 6.44%, the lowest has been 4.87%, and the highest has been 10.62%. The standard deviation of yields is 0.85 (n=237).

The current dividend yield is 0.29 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.20. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

New York Community Bancorp Background Information
(This description is provided by the company.)

Based in Westbury, NY, New York Community Bancorp, Inc. is a leading producer of multi-family loans on non-luxury, rent-regulated apartment buildings in New York City, and the parent of New York Community Bank. At December 31, 2020, the Company reported assets of $56.3 billion, loans of $42.9 billion, deposits of $32.4 billion, and stockholders’ equity of $6.8 billion.

Key filings for this company:

This article originally appeared on Fintel

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