Merrill Lynch analyst Ebrahim Poonawala reiterated a Buy rating on NY Community (NYCB) yesterday and set a price target of $12.50. The company’s shares opened today at $11.59.
According to TipRanks.com, Poonawala is a 3-star analyst with an average return of 1.6% and a 53.8% success rate. Poonawala covers the Financial sector, focusing on stocks such as Hancock Whitney Corporation, Texas Capital Bancshares, and Prosperity Bancshares.
NY Community has an analyst consensus of Moderate Buy, with a price target consensus of $12.06, which is a 4.1% upside from current levels. In a report released yesterday, B.Riley FBR also reiterated a Buy rating on the stock with a $13 price target.
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NY Community’s market cap is currently $5.39B and has a P/E ratio of 14.78. The company has a Price to Book ratio of 0.87.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NYCB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
New York Community Bancorp, Inc. engages in the production of multi-family loans on non-luxury rent-regulated buildings that feature below-market rents. It offers financial products and services to individuals and businesses. The company was founded on July 20, 1993 and is headquartered in Westbury, NY.
