New York Community Bancorp Inc. (NYSE:NYCB) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -1.22% to the previous day’s close as strong demand from buyers drove the stock to $10.56.
Actively observing the price movement in the last trading, the stock closed the session at $10.69, falling within a range of $10.39 and $10.67. The value of beta (5-year monthly) was 1.05 whereas the PE ratio was 2.76 over 12-month period. Referring to stock’s 52-week performance, its high was $11.21, and the low was $5.81. On the whole, NYCB has fluctuated by 17.99% over the past month.
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With the market capitalization of New York Community Bancorp Inc. currently standing at about $7.68 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 25, 2023 – Jul 31, 2023. The company’s Forward Dividend Ratio is 0.68, with its dividend yield at 6.44%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.31, which is expected to increase to $0.36 for fiscal year $1.21 and then to about $1.45 by fiscal year 2024. Data indicates that the EPS growth is expected to be -1.60% in 2024, while the next year’s EPS growth is forecast to be 19.80%.
Analysts have estimated the company’s revenue for the quarter at $763.35 million, with a low estimate of $682 million and a high estimate of $798.9 million. According to the average forecast, sales growth in current quarter could jump up 112.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $2.87 billion, representing an increase of 105.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NYCB’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NYCB currently trading nearly 3.52% and 14.02% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.59, while the 7-day volatility ratio is showing 3.23% which for the 30-day chart, stands at 5.00%. Furthermore, New York Community Bancorp Inc. (NYCB)’s beta value is 1.05, and its average true range (ATR) is 0.46.
A comparison of New York Community Bancorp Inc. (NYCB) with its peers suggests the former has fared considerably weaker in the market. NYCB showed an intraday change of -1.22% in last session, and over the past year, it grew by 11.16%%. In comparison, Northwest Bancshares Inc. (NWBI) has moved lower at -0.83% on the day and was down -14.47% over the past 12 months. Additionally, there is a loss of -1.72% for TrustCo Bank Corp NY (TRST) in last trading while the stock has seen an overall depriciation of -8.32%% over the past year. The PE ratio stands at 2.76 for New York Community Bancorp Inc., compared to 9.86 for Northwest Bancshares Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for New York Community Bancorp Inc. (NYSE:NYCB) indicates that the trading volumes over the past 10 days have averaged 15.09 million and over the past 3 months, they’ve averaged 19.52 million. According to company’s latest data on outstanding shares, there are 686.91 million shares outstanding.
Nearly 0.60% of New York Community Bancorp Inc.’s shares belong to company insiders and institutional investors own 44.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 46.72 million shares as on Apr 27, 2023, resulting in a short ratio of 3.07. According to the data, the short interest in New York Community Bancorp Inc. (NYCB) stood at 6.47% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 39.2 million. The stock has risen by 22.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NYCB stock heading into the next quarter.
