Dimensional Fund Advisors LP recently announced the acquisition of new stake in New York Community Bancorp Inc. (NYSE:NYCB). The institutional investor has increased its shareholding in the Financial company by 4.62% to 11.82 million shares with purchase of 0.52 million shares. This fresh investment now brings its stake to 2.55% valued currently at $124.46 million. In addition, Citadel Advisors LLC raised its holdings by 0.15 million to 8.11 million shares.
With over 5.83 million New York Community Bancorp Inc. (NYCB) shares trading Tuesday and a closing price of $8.89 on the day, the dollar volume was approximately $51.81 million. The shares have shown a negative weekly performance of -3.79% and its price on 09/01/20 lost nearly -1.77%. Currently, there are 461.93M common shares owned by the public and among those 448.08M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for NYCB have a consensus price objective of $11.92. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the New York Community Bancorp Inc. stock is 2.50 for the next 12 months. The average price target is 25.92% above its last price level and an upside to the estimated low will see the stock gain 11.1% over that period. But an upside of 36.5% will see the stock hit the forecast high price target while mean target price for the stock is $11.75.
Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 572,542 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 514,906 shares.
The top 3 mutual fund holders in New York Community Bancorp Inc. are Vanguard Total Stock Market Index, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 12.46 million shares of the company’s stock, all valued at over $131.21 million. The company sold 73660.0 shares recently to bring their total holdings to about 2.69% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 65338.0 shares to see its total holdings shrink to 12.3 million shares valued at over $129.51 million and representing 2.65% of the shares outstanding. Vanguard Small Cap Index Fund sold 80503.0 shares to bring its total holdings to over 10.95 million shares at a value of $115.34 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.36% of the shares outstanding.
Shares of New York Community Bancorp Inc. (NYSE: NYCB) opened at $9.00, down -$0.05 from a prior closing price of $9.05. However, the script later closed the day at $8.89, down -1.77%. The company’s stock has a 5-day price change of -3.79% and -14.02% over the past three months. NYCB shares are trading -26.04% year to date (YTD), with the 12-month market performance down to -22.43% lower. It has a 12-month low price of $8.19 and touched a high of $13.79 over the same period. Currently, 5.83 million shares have been traded, compared to an average intraday trading volume of 3.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.39%, -10.69%, and -16.41% respectively.
Institutional ownership of New York Community Bancorp Inc. (NYSE: NYCB) shares accounts for 63.00% of the company’s 461.93M shares outstanding. Mutual fund holders own 33.22%, while other institutional holders and individual stakeholders account for 4.74% and 29.40% respectively.
It has a market capitalization of $4.12B and a beta (3y monthly) value of 0.86. The stock’s trailing 12-month PE ratio is 11.22, while the earnings-per-share (ttm) stands at $0.79. The company has a debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.00% over the week and 2.78% over the month.
Analysts forecast that New York Community Bancorp Inc. (NYCB) will achieve an EPS of $0.23 for the current quarter, $0.25 for the next quarter and $1.01 for 2021. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.25. Comparatively, EPS for the current quarter was $0.19 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.70%, and 15.03% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate New York Community Bancorp Inc. (NYCB) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 9 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the NYCB, a number of firms have released research notes about the stock. Compass Point stated their Neutral rating for the stock in a research note on April 14, 2020, with the firm’s price target at. RBC Capital Mkts coverage for the New York Community Bancorp Inc. (NYCB) stock in a research note released on April 13, 2020 offered a Outperform rating with a price target of $12. B. Riley FBR was of a view on April 13, 2020 that the stock is Buy, while Piper Sandler gave the stock Overweight rating on February 10, 2020, issuing a price target of $13. B. Riley FBR on their part issued Neutral rating on January 30, 2020.