New York Community Bancorp Inc. (NYCB) 2020 Stock Forecast: Bullish Outlook with 36.5% Upside

New York Community Bancorp Inc. (NYSE: NYCB) is -26.04% lower on its value in year-to-date trading and has touched a low of $8.19 and a high of $13.79 in the current 52-week trading range. The NYCB stock was last observed hovering at around $9.05 in the last trading session, with the day’s loss setting it -0.16% off its average median price target of $11.75 for the next 12 months. It is also 36.5% off the consensus price target high of $14.00 offered by 17 analysts, but current levels are 11.1% higher than the price target low of $10.00 for the same period.

Currently trading at $8.89, the stock is -8.39% and -10.69% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.83 million and changing -1.77% at the moment leaves the stock -16.41% off its SMA200. NYCB registered -22.43% loss for a year compared to 6-month loss of -24.28%. The firm has a 50-day simple moving average (SMA 50) of $9.97 and a 200-day simple moving average (SMA200) of $10.14.

The stock witnessed a -13.27% gain in the last 1 month and extending the period to 3 months gives it a -14.02%, and is -3.79% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.00% over the week and 2.78% over the month.

New York Community Bancorp Inc. (NYCB) has around 2786 employees, a market worth around $4.12B and $1.77B in sales. Current P/E ratio is 11.22 and Fwd P/E is 8.80. Profit margin for the company is 20.80%. Distance from 52-week low is 8.61% and -35.53% from its 52-week high. The company has generated returns on investments over the last 12 months (10.70%).

New York Community Bancorp Inc. (NYCB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for New York Community Bancorp Inc. (NYCB) is a “Overweight”. 17 analysts offering their recommendations for the stock have an average rating of 2.50, where 9 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

New York Community Bancorp Inc. is expected to release its quarterly report on 10/21/2020 and quarterly earnings per share for the current quarter are estimated at $0.23 with sales reaching $282.33M over the same period.The EPS is expected to shrink by -2.70% this year, but quarterly earnings will post 13.80% year-over-year.

New York Community Bancorp Inc. (NYCB) Top Institutional Holders

478 institutions hold shares in New York Community Bancorp Inc. (NYCB), with 15.34M shares held by insiders accounting for 3.31% while institutional investors hold 64.29% of the company’s shares. The shares outstanding are 461.93M, and float is at 448.08M with Short Float at 5.32%. Institutions hold 62.16% of the Float.

The top institutional shareholder in the company is Barrow, Hanley Mewhinney & Strauss, LLC with over 53.23 million shares valued at $542.9 million. The investor’s holdings represent 11.47% of the NYCB Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 48.04 million shares valued at $490.02 million to account for 10.36% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 42.4 million shares representing 9.14% and valued at over $432.52 million, while State Street Corporation holds 2.81% of the shares totaling 13.01 million with a market value of $132.74 million.

New York Community Bancorp Inc. (NYCB) Insider Activity

A total of 22 insider transactions have happened at New York Community Bancorp Inc. (NYCB) in the last six months, with sales accounting for 16 and purchases happening 6 times. The most recent transaction is an insider purchase by Savarese Lawrence J., the company’s Director. SEC filings show that Savarese Lawrence J. bought 2,000 shares of the company’s common stock on Mar 17 at a price of $10.20 per share for a total of $20400.0. Following the purchase, the insider now owns 9500.0 shares.

New York Community Bancorp Inc. disclosed in a document filed with the SEC on Mar 13 that Savarese Lawrence J. (Director) bought a total of 3,000 shares of the company’s common stock. The trade occurred on Mar 13 and was made at $9.68 per share for $29043.0. Following the transaction, the insider now directly holds 7500.0 shares of the NYCB stock.

New York Community Bancorp Inc. (NYCB): Who are the competitors?

The company’s main competitors (and peers) include Northwest Bancshares Inc. (NWBI) that is trading -35.55% down over the past 12 months. TrustCo Bank Corp NY (TRST) is -22.43% down on the 1-year trading charts. Short interest in the company’s stock has fallen -2.56% from the last report on Jul 14, 2020 to stand at a total of 24.44 million short shares sold with a short interest ratio of 7.3.