why New York Community Bancorp Inc. [NYCB] is a Good Choice for Investors After New Price Target of $10.58

New York Community Bancorp Inc. [NYSE: NYCB] jumped around 0.24 points on Monday, while shares priced at $8.73 at the close of the session, up 2.83%. The company report on October 5, 2022 that NEW YORK COMMUNITY BANCORP, INC. TO REPORT THIRD QUARTER 2022 EARNINGS AND HOST CONFERENCE CALL ON OCTOBER 26TH.

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New York Community Bancorp, Inc. (NYSE: NYCB) (the “Company”) today announced that it expects to issue its earnings release for the three and nine months ended September 30, 2022 at approximately 7:00 a.m. Eastern Time (ET) on Wednesday, October 26, 2022.  The release will be posted to the Investor Relations portion of the Company’s website, ir.myNYCB.com, upon issuance.

The Company will conduct a conference call at 8:30 a.m. (ET) on the same date, during which Chairman, President, and Chief Executive Officer Thomas R. Cangemi and Senior Executive Vice President and Chief Financial Officer John Pinto will discuss the Company’s third quarter 2022 performance.  The conference call will be simultaneously webcast at ir.myNYCB.com and archived through 5:00 p.m. on November 23, 2022.

New York Community Bancorp Inc. stock is now -28.50% down from its year-to-date (YTD) trading value. NYCB Stock saw the intraday high of $8.77 and lowest of $8.505 per share. The company’s 52-week high price is 14.33, which means current price is +6.85% above from all time high which was touched on 01/13/22.

Compared to the average trading volume of 6.35M shares, NYCB reached a trading volume of 7340257 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $10.58 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.

Wedbush 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 September 28, 2022. While these analysts kept the previous recommendation, Deutsche Bank dropped their target price from $15 to $10. The new note on the price target was released on July 18, 2022, representing the official price target for New York Community Bancorp Inc. stock. Previously, the target price had yet another drop from $16 to $11, while B. Riley Securities kept a Neutral rating on NYCB stock.

The Average True Range (ATR) for New York Community Bancorp Inc. is set at 0.31, with the Price to Sales ratio for NYCB stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 8.63.

How has NYCB stock performed recently?

New York Community Bancorp Inc. [NYCB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.46. With this latest performance, NYCB shares dropped by -2.02% in over the last four-week period, additionally sinking by -13.31% over the last 6 months – not to mention a drop of -37.78% 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 47.50, with the RSI for the last a single of trading hit 51.83, and the three-weeks RSI is set at 45.50 for New York Community Bancorp Inc. [NYCB]. The present Moving Average for the last 50 days of trading for this stock 9.40, while it was recorded at 8.55 for the last single week of trading, and 10.17 for the last 200 days.

New York Community Bancorp Inc. [NYCB]: Deeper insight into the 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.

Insider trade positions for New York Community Bancorp Inc. [NYCB]

There are presently around $2,581 million, or 64.10% of NYCB stock, in the hands of institutional investors. The top three institutional holders of NYCB stocks are: BLACKROCK INC. with ownership of 53,519,381, which is approximately 3.429% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 43,858,261 shares of the stock with an approximate value of $382.88 million in NYCB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $206.29 million in NYCB stock with ownership of nearly 18.869% of the company’s market capitalization.

Positions in New York Community Bancorp Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 240 institutional holders increased their position in New York Community Bancorp Inc. [NYSE:NYCB] by around 29,600,103 shares. Additionally, 181 investors decreased positions by around 27,204,886 shares, while 85 investors held positions by with 238,847,584 shares. The mentioned changes placed institutional holdings at 295,652,573 shares, according to the latest SEC report filing. NYCB stock had 48 new institutional investments in for a total of 4,505,480 shares, while 48 institutional investors sold positions of 7,133,517 shares during the same period.


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