New York Community Bancorp Inc. (NYSE: NYCB) stock fell -3.63% on Friday to $9.02 against a previous-day closing price of $9.36. With 8.58 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.09 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $9.42 whereas the lowest price it dropped to was $8.98. The 52-week range on NYCB shows that it touched its highest point at $14.33 and its lowest point at $8.50 during that stretch. It currently has a 1-year price target of $11.36. With its current market cap of 4.25 billion, NYCB has annualized dividend of $0.68 while the current yield stands at 7.54%. Beta for the stock currently stands at 0.99.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NYCB was down-trending over the past week, with a drop of -6.04%, but this was down by -12.93% over a month. Three-month performance surged to 3.20% while six-month performance fell -16.64%. The stock lost -27.55% in the past year, while it has lost -26.13% so far this year. A look at the trailing 12-month EPS for NYCB yields 1.25 with Next year EPS estimates of 1.35. For the next quarter, that number is 0.33. This implies an EPS growth rate of 37.40% for this year and 1.20% for next year.
Float and Shares Shorts:
At present, 465.81 million NYCB shares are outstanding with a float of 458.42 million shares on hand for trading. On Jul 14, 2022, short shares totaled 47.12 million, which was 10.09% higher than short shares on Jun 14, 2022. In addition to Mr. Thomas Robert Cangemi CPA as the firm’s Pres, CEO & Chairman, Mr. John J. Pinto CPA serves as its Sr. EVP & CFO.
Through their ownership of 63.49% of NYCB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 4.82% of NYCB, in contrast to 35.13% held by mutual funds. Shares owned by individuals account for 28.47%. As the largest shareholder in NYCB with 10.45% of the stake, BlackRock Fund Advisors holds 48,730,948 shares worth 48,730,948. A second-largest stockholder of NYCB, The Vanguard Group, Inc., holds 43,236,067 shares, controlling over 9.28% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in NYCB, holding 23,629,566 shares or 5.07% stake. With a 2.94% stake in NYCB, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 13,705,544 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.81% of NYCB stock, is the second-largest Mutual Fund holder. It holds 13,087,371 shares valued at 128.13 million. iShares Tr. – Select Dividend ETF holds 2.48% of the stake in NYCB, owning 11,539,883 shares worth 112.98 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NYCB since 13 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NYCB analysts setting a high price target of $16.00 and a low target of $9.00, the average target price over the next 12 months is $11.33. Based on these targets, NYCB could surge 77.38% to reach the target high and fall by -0.22% to reach the target low. Reaching the average price target will result in a growth of 25.61% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NYCB will report FY 2022 earnings on 01/25/2023. Analysts have provided yearly estimates in a range of $1.37 being high and $1.29 being low. For NYCB, this leads to a yearly average estimate of $1.33. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. New York Community Bancorp Inc. surprised analysts by $0.02 when it reported $0.34 EPS against a consensus estimate of $0.32. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is $0.34 and the low estimate is $0.31. The average estimate for the next quarter is thus $0.32.
Summary of Insider Activity:
Insiders traded NYCB stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 398,076 while 226,396 shares were sold.