Stock Worth Watching: What’s New York Community Bancorp, Inc. Downside After Making 52 Week Low?

Stock Worth Watching: What's New York Community Bancorp, Inc. Downside After Making 52 Week Low?

The stock of New York Community Bancorp, Inc. (NYSE:NYCB) hit a new 52-week low and has $13.40 target or 5.00% below today’s $14.11 share price. The 8 months bearish chart indicates high risk for the $6.79B company. The 1-year low was reported on Oct, 4 by Barchart.com. If the $13.40 price target is reached, the company will be worth $339.50M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 427,215 shares traded hands. New York Community Bancorp, Inc. (NYSE:NYCB) has declined 10.45% since March 1, 2016 and is downtrending. It has underperformed by 19.69% the S&P500.

Analysts await New York Community Bancorp, Inc. (NYSE:NYCB) to report earnings on October, 19. They expect $0.27 earnings per share, up 3.85% or $0.01 from last year’s $0.26 per share. NYCB’s profit will be $129.93M for 13.06 P/E if the $0.27 EPS becomes a reality. After $0.26 actual earnings per share reported by New York Community Bancorp, Inc. for the previous quarter, Wall Street now forecasts 3.85% EPS growth.

New York Community Bancorp, Inc. (NYSE:NYCB) Ratings Coverage

Out of 8 analysts covering New York Community Bancorp Inc. (NYSE:NYCB), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $19 is the highest target while $15.0 is the lowest. The $17.40 average target is 23.32% above today’s ($14.11) stock price. New York Community Bancorp Inc. has been the topic of 11 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The firm has “Mkt Perform” rating by Keefe Bruyette & Woods given on Friday, October 30. The stock has “Buy” rating given by Standpoint Research on Friday, October 30. The firm earned “Underperform” rating on Friday, October 30 by FBR Capital. The firm has “Buy” rating given on Tuesday, January 5 by Sterne Agee CRT. The company was upgraded on Monday, November 2 by Sandler O’Neill. FBR Capital upgraded New York Community Bancorp, Inc. (NYSE:NYCB) on Tuesday, January 19 to “Mkt Perform” rating. Bank of America upgraded the stock to “Buy” rating in Monday, November 30 report. The firm has “Neutral” rating given on Thursday, August 20 by Sterne Agee CRT. Raymond James upgraded the shares of NYCB in a report on Friday, October 30 to “Outperform” rating. The stock of New York Community Bancorp, Inc. (NYSE:NYCB) earned “Sector Perform” rating by RBC Capital Markets on Thursday, January 28.

According to Zacks Investment Research, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank.”

Insitutional Activity: The institutional sentiment decreased to 1.08 in 2016 Q2. Its down 0.03, from 1.11 in 2016Q1. The ratio dropped, as 41 funds sold all New York Community Bancorp, Inc. shares owned while 119 reduced positions. 36 funds bought stakes while 137 increased positions. They now own 294.08 million shares or 10.42% more from 266.32 million shares in 2016Q1.
Raymond James & Associates, a Florida-based fund reported 981,429 shares. Shell Asset Mngmt, a Netherlands-based fund reported 35,176 shares. Panagora Asset Mngmt, a Massachusetts-based fund reported 26,102 shares. Mizuho Trust & Com Limited reported 756,950 shares or 0.03% of all its holdings. Apg Asset Nv has invested 0.01% of its portfolio in New York Community Bancorp, Inc. (NYSE:NYCB). Citadel Advsr Limited Liability Company last reported 35,255 shares in the company. Ruggie Cap last reported 0.02% of its portfolio in the stock. Moreover, Ngam Advsr Lp has 0.01% invested in New York Community Bancorp, Inc. (NYSE:NYCB) for 56,789 shares. Gulf Bancorp (Uk) has 135,657 shares for 0.03% of their US portfolio. Financial Bank Of Montreal Can reported 162,380 shares or 0% of all its holdings. Pnc Finance Grp holds 0% or 175,804 shares in its portfolio. Timber Hill Limited Liability Corporation holds 0% of its portfolio in New York Community Bancorp, Inc. (NYSE:NYCB) for 28,074 shares. Moreover, Advsrs Asset Mgmt has 0.08% invested in New York Community Bancorp, Inc. (NYSE:NYCB) for 348,860 shares. Strategic Lc reported 10,749 shares or 0.09% of all its holdings. First Personal has 0% invested in the company for 409 shares.

Insider Transactions: Since May 4, 2016, the stock had 2 buys, and 0 selling transactions for $289,051 net activity. CIAMPA DOMINICK had bought 10,000 shares worth $144,781 on Wednesday, May 4.

NYCB Company Profile

New York Community Bancorp, Inc., incorporated on July 16, 1993, is a multi-bank holding company. The Firm operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s activities are divided into two divisions: Banking Operations and Residential Mortgage Banking. The Banking Operations segment serves clients and businesses by offering and servicing a range of loan and deposit products and other financial services. The Residential Mortgage Banking segment originates, aggregates, sells and services one- to four-family mortgage loans. Mortgage loan products consist of agency-conforming fixed- and adjustable-rate loans and, to a lesser extent, jumbo loans, for the purpose of purchasing or refinancing one- to four-family homes. The Community Bank is a chartered savings bank with approximately 230 branches that operates through over seven local divisions. The Community Bank is a producer of multi-family loans in New York City. The Commercial Bank is a chartered commercial bank with approximately 30 branches in Manhattan, Queens, Brooklyn, Westchester County and Long Island, including approximately 20 that operate under the name, Atlantic Bank. The Commercial Bank offers around the clock banking online, mobile banking and banking by phone. The Firm also serves its clients through approximately three connected Websites: www.myNYCB.com, www.NewYorkCommercialBank.com and www.NYCBfamily.com.

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