New York Community Bancorp Inc. (NYSE:NYCB) Risks You Should Know Before Investing

In yesterday’s Wall Street session, New York Community Bancorp Inc. (NYSE:NYCB) shares traded at $9.28, up 2.32% from the previous session.

19 analysts cover New York Community Bancorp Inc. (NYSE:NYCB), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $16.00 and a low of $8.00, we find $13.00. Given the previous closing price of $9.07, this indicates a potential upside of 43.33 percent. NYCB stock price is now -11.98% away from the 50-day moving average and -11.20% away from the 200-day moving average. The market capitalization of the company currently stands at $6.70B.

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The stock has received a hold rating from 4 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $12.79 as their price target over the next twelve months.

With the price target reduced from $12 to $8, Wedbush Downgraded its rating from Neutral to Underperform for New York Community Bancorp Inc. (NYSE: NYCB).

In other news, Davis Reginald E, Sr EVP & President of Banking sold 11,000 shares of the company’s stock on Nov 02. The stock was sold for $108,207 at an average price of $9.84. Upon completion of the transaction, the Sr EVP & President of Banking now directly owns 70,416 shares in the company, valued at $0.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 14, Sr EVP & President of Banking Davis Reginald E sold 24,000 shares of the business’s stock. A total of $302,390 was realized by selling the stock at an average price of $12.60. This leaves the insider owning 81,416 shares of the company worth $0.76 million. Insiders disposed of 435,908 shares of company stock worth roughly $4.05 million over the past 1 year. A total of 1.92% of the company’s stock is owned by insiders.

On Friday morning New York Community Bancorp Inc. (NYSE: NYCB) stock kicked off with the opening price of $9.13. During the past 12 months, New York Community Bancorp Inc. has had a low of $5.81 and a high of $14.22. The fifty day moving average price for NYCB is $10.49 and a two-hundred day moving average price translates $10.44 for the stock.

The latest earnings results from New York Community Bancorp Inc. (NYSE: NYCB) was released for Sep, 2023. According to the Banks – Regional Company, earnings per share came in at $0.36, beating analysts’ expectations of $0.35 by 0.01. This compares to $0.30 EPS in the same period last year. The net profit margin was 36.42% and return on equity was 31.22% for NYCB. The company reported revenue of $1.51 billion for the quarter, compared to $509.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 197.05 percent. For the current quarter, analysts expect NYCB to generate $794.55M in revenue.

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.

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