New York Community Bancorp Inc. [NYSE: NYCB] traded at a low on Friday, posting a -25.89 loss after which it closed the day’ session at $3.55. The company report on March 1, 2024 at 9:45 AM that NEW YORK COMMUNITY BANCORP, INC. CONTINUES TO STRENGTHEN MANAGEMENT TEAM AND ENHANCE RISK FRAMEWORK.
Company Reiterates that Previously Announced Material Weaknesses Are Not Expected to Impact Full Fiscal Year 2023 Financial Results to be Included in the Form 10-K.
Reiterates 2023 Form 10-K Expected to Be Filed Within the Next 15 Days.
The results of the trading session contributed to over 123079195 shares changing hands. Over the past one week, the price volatility of New York Community Bancorp Inc. stands at 7.18% while the volatility over the past one month is 11.21%.
The market cap for NYCB stock reached $2.56 billion, with 722.07 million shares outstanding and 708.14 million shares in the current float. Compared to the average trading volume of 24.62M shares, NYCB reached a trading volume of 123079195 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 $6.07 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 2.89. 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.
Piper Sandler 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 March 01, 2024. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $8.50 to $5. The new note on the price target was released on February 08, 2024, representing the official price target for New York Community Bancorp Inc. stock. Previously, the target price had yet another drop from $11.50 to $5.50, while JP Morgan kept a Neutral rating on NYCB stock. On February 07, 2024, analysts decreased their price target for NYCB shares from 8.50 to 5.
The Average True Range (ATR) for New York Community Bancorp Inc. is set at 0.51, with the Price to Sales ratio for NYCB stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.25.
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 -21.46. With this latest performance, NYCB shares dropped by -45.13% in over the last four-week period, additionally sinking by -70.29% over the last 6 months – not to mention a drop of -59.61% 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 26.40, with the RSI for the last a single of trading hit 25.45, and the three-weeks RSI is set at 27.50 for New York Community Bancorp Inc. [NYCB]. The present Moving Average for the last 50 days of trading for this stock 7.85, while it was recorded at 4.40 for the last single week of trading, and 10.23 for the last 200 days.
New York Community Bancorp Inc. [NYCB]: Deeper insight into the fundamentals
New York Community Bancorp Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.57.
Earnings analysis for New York Community Bancorp Inc. [NYCB]
With the latest financial reports released by the company, New York Community Bancorp Inc. posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.23/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NYCB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New York Community Bancorp Inc. go to -0.30%.
Insider trade positions for New York Community Bancorp Inc. [NYCB]
The top three institutional holders of NYCB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NYCB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NYCB stock with ownership which is approximately 5.8325%.
