New York Community Bancorp Inc. (NYSE: NYCB) stock fell -1.22% on Wednesday to $10.56 against a previous-day closing price of $10.69. With 9.4 million shares changed hands, the volume of the stock remained lighter than its average volume of 19.52 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $10.67 whereas the lowest price it dropped to was $10.39. The 52-week range on NYCB shows that it touched its highest point at $11.21 and its lowest point at $5.81 during that stretch. It currently has a 1-year price target of $11.89. With its current market cap of 7.68 billion, NYCB has annualized dividend of $0.68 while the current yield stands at 6.44%. Beta for the stock currently stands at 1.05.
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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 -5.71%, but this was up by 17.99% over a month. Three-month performance surged to 16.94% while six-month performance rose 12.58%. The stock gained 11.16% in the past year, while it has gained 22.79% so far this year. A look at the trailing 12-month EPS for NYCB yields 3.82 with Next year EPS estimates of 1.45. For the next quarter, that number is 0.31. This implies an EPS growth rate of 5.10% for this year and 19.51% for next year. EPS is expected to decline by -0.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.10%.
Float and Shares Shorts:
At present, 686.91 million NYCB shares are outstanding with a float of 672.56 million shares on hand for trading. On Apr 27, 2023, short shares totaled 46.72 million, which was 6.47% higher than short shares on Mar 30, 2023. In addition to Mr. Thomas Robert Cangemi CPA as the firm’s Pres, CEO & Director, Mr. John J. Pinto CPA serves as its Sr. EVP, CFO & Principal Financial Officer.
Through their ownership of 57.07% of NYCB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 4.09% of NYCB, in contrast to 38.97% held by mutual funds. Shares owned by individuals account for 28.24%. As the largest shareholder in NYCB with 10.99% of the stake, BlackRock Fund Advisors holds 75,043,728 shares worth 75,043,728. A second-largest stockholder of NYCB, The Vanguard Group, Inc., holds 66,087,891 shares, controlling over 9.68% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in NYCB, holding 35,348,227 shares or 5.18% stake. With a 3.11% stake in NYCB, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 21,257,533 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.94% of NYCB stock, is the second-largest Mutual Fund holder. It holds 20,063,890 shares valued at 214.48 million. iShares Tr. – Select Dividend ETF holds 2.70% of the stake in NYCB, owning 18,446,114 shares worth 197.19 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NYCB since 0 analysts follow the stock currently. 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 $13.00 and a low target of $10.00, the average target price over the next 12 months is $11.87. Based on these targets, NYCB could surge 23.11% to reach the target high and fall by -5.3% to reach the target low. Reaching the average price target will result in a growth of 12.41% 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.
Summary of Insider Activity:
Insiders traded NYCB stock several times over the past three months with 11 Buys and 20 Sells. In these transactions, 449,971 shares were bought while 128,559 shares were sold. The number of buy transactions has increased to 52 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 5,823,237 while 382,238 shares were sold.