Stocks of New York Community Bancorp Inc. (NYSE:NYCB) traded higher last session on Wall Street, up 10.02% to $11.20.
According to the data, New York Community Bancorp Inc. (NYSE:NYCB) has 18 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $10.00, we find $12.00. Given the previous closing price of $10.18, this indicates a potential upside of 17.88 percent. NYCB stock price is now 25.37% away from the 50-day moving average and 21.09% away from the 200-day moving average. The market capitalization of the company currently stands at $7.82B.
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A total of 6 analysts have issued a hold rating and 12 have given it a buy rating. Brokers who have rated the stock have averaged $11.87 as their price target over the next twelve months.
With the price target maintained at $11, Jefferies recently Upgraded its rating from Hold to Buy for New York Community Bancorp Inc. (NYSE: NYCB)., while ‘DA Davidson’ rates the stock as ‘Buy’.
In other news, Davis Reginald E, Sr EVP & President of Banking sold 4,600 shares of the company’s stock on Feb 07. The stock was sold for $45,863 at an average price of $9.97. Upon completion of the transaction, the Sr EVP & President of Banking now directly owns 123,033 shares in the company, valued at $1.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 06, Director Rosenfeld Ronald A. bought 30,800 shares of the business’s stock. A total of $756,756 was incurred on buying the stock at an average price of $24.57. This leaves the insider owning 30,800 shares of the company worth $0.34 million. Insiders disposed of 382,238 shares of company stock worth roughly $4.28 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NYCB stock. A new stake in New York Community Bancorp Inc. shares was purchased by BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $69,181,000. GREENLIGHT CAPITAL INC invested $25,531,000 in shares of NYCB during the first quarter. In the first quarter, SAMLYN CAPITAL, LLC acquired a new stake in New York Community Bancorp Inc. valued at approximately $21,602,000. TANG CAPITAL MANAGEMENT LLC acquired a new stake in NYCB for approximately $17,994,000. CHURCHILL MANAGEMENT CORP purchased a new stake in NYCB valued at around $15,264,000 in the second quarter. In total, there are 621 active investors with 44.10% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $10.75 for New York Community Bancorp Inc. (NYSE: NYCB). During the past 12 months, New York Community Bancorp Inc. has had a low of $5.81 and a high of $11.02. The fifty day moving average price for NYCB is $8.99 and a two-hundred day moving average price translates $9.25 for the stock.
The latest earnings results from New York Community Bancorp Inc. (NYSE: NYCB) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.23, inline with analysts’ expectations of $0.23. This compares to $0.31 EPS in the same period last year. The net profit margin was 90.50% and return on equity was 31.30% for NYCB. The company reported revenue of $1.03 billion for the quarter, compared to $429.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 141.03 percent. For the current quarter, analysts expect NYCB to generate $763.35M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/18/2023. Investors who held shares on 05/08/2023 were paid a $0.17 dividend. On an annualized basis, this represents a $0.68 dividend and a 6.07% percent yield. There was an ex-dividend date of 05/05/2023 for this dividend. In terms of dividend payout ratio, NYCB is presently at 17.80%.
New York Community Bancorp Inc.(NYCB) 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. Its loan products comprise multi-family loans; commercial real estate loans; acquisition, development, and construction loans; commercial and industrial loans; one-to-four family loans; specialty finance loans and leases; warehouse loans; and other loans, such as home equity lines of credit, boat and recreational vehicle indirect lending, point of sale consumer loans, and other consumer loans, including overdraft loans. The company also offers cash management products; non-deposit investment and insurance products; and online banking, mobile banking, and bank-by-phone services. It primarily serves individuals, small and mid-size businesses, and professional associations. The company was formerly known as Queens County Bancorp, Inc. and changed its name to New York Community Bancorp, Inc. in November 2000. New York Community Bancorp, Inc. was founded in 1859 and is headquartered in Hicksville, New York.
