why New York Community Bancorp Inc. [NYCB] is a Good Choice for Investors After New Price Target of $12.29


New York Community Bancorp Inc. [NYSE: NYCB] price plunged by -0.66 percent to reach at -$0.06. The company report on June 28, 2022 that Circle Partners with New York Community Bancorp Inc. to Custody USDC Reserves and Invest in Community-Based Initiatives.

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NYCB partnership marks Circle’s first custody relationship with a community bank and brings digital financial literacy opportunities to the greater NYCB community.

Today, Circle Internet Financial, a global digital financial technology firm and the issuer of USD Coin (USDC), has announced a custody partnership with New York Community Bancorp, Inc. (NYSE: NYCB). Under this agreement, NYCB’s bank subsidiary, New York Community Bank, will become a custodian for USDC reserves. Additionally, the two organizations will work together to create strategies utilizing Circle blockchain and stablecoin solutions to  promote access to low-cost financial solutions for underserved and unbanked communities. Additionally, the plan will develop support for Minority-owned Depository Institutions (MDIs) where additional reserves may be held. New York Community is the first community bank approved by Circle to serve as a custodian for USDC reserves.

A sum of 4359757 shares traded at recent session while its average daily volume was at 8.21M shares. New York Community Bancorp Inc. shares reached a high of $9.275 and dropped to a low of $9.03 until finishing in the latest session at $9.04.

The one-year NYCB stock forecast points to a potential upside of 26.44. The average equity rating for NYCB stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on New York Community Bancorp Inc. [NYCB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NYCB shares is $12.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NYCB stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for New York Community Bancorp Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 14, 2022. The new note on the price target was released on June 03, 2022, representing the official price target for New York Community Bancorp Inc. stock. Previously, the target price had yet another drop from $12 to $9, while Stephens kept a Underweight rating on NYCB stock. On February 05, 2021, analysts decreased their price target for NYCB shares from 13 to 11.

The Average True Range (ATR) for New York Community Bancorp Inc. is set at 0.29, with the Price to Sales ratio for NYCB stock in the period of the last 12 months amounting to 2.39. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 8.03. Price to Free Cash Flow for NYCB in the course of the last twelve months was 131.37.

NYCB Stock Performance Analysis:

New York Community Bancorp Inc. [NYCB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.39. With this latest performance, NYCB shares dropped by -8.78% in over the last four-week period, additionally sinking by -26.02% over the last 6 months – not to mention a drop of -18.85% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NYCB stock in for the last two-week period is set at 44.01, with the RSI for the last a single of trading hit 46.54, and the three-weeks RSI is set at 43.07 for New York Community Bancorp Inc. [NYCB]. The present Moving Average for the last 50 days of trading for this stock 9.48, while it was recorded at 8.93 for the last single week of trading, and 11.47 for the last 200 days.

Insight into New York Community Bancorp Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and New York Community Bancorp Inc. [NYCB] shares currently have an operating margin of +47.59. New York Community Bancorp Inc.’s Net Margin is presently recorded at +33.81.

Return on Equity for this stock inclined to 8.48, with Return on Assets sitting at 1.02.

New York Community Bancorp Inc. [NYCB] Insider Position Details

There are presently around $2,660 million, or 63.10% of NYCB stock, in the hands of institutional investors. The top three institutional holders of NYCB stocks are: BLACKROCK INC. with ownership of 51,744,954, which is approximately 1.517% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 42,107,996 shares of the stock with an approximate value of $383.18 million in NYCB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $180.9 million in NYCB stock with ownership of nearly 6.115% of the company’s market capitalization.

Positions in New York Community Bancorp Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 265 institutional holders increased their position in New York Community Bancorp Inc. [NYSE:NYCB] by around 32,132,466 shares. Additionally, 164 investors decreased positions by around 29,027,729 shares, while 80 investors held positions by with 231,157,094 shares. The mentioned changes placed institutional holdings at 292,317,289 shares, according to the latest SEC report filing. NYCB stock had 65 new institutional investments in for a total of 5,299,497 shares, while 43 institutional investors sold positions of 7,012,966 shares during the same period.