Fintel reports that on July 31, 2023, Deutsche Bank upgraded their outlook for New York Community Bancorp (NYSE:NYCB) from Hold to Buy.

Analyst Price Forecast Suggests 10.89% Downside

As of July 6, 2023, the average one-year price target for New York Community Bancorp is 12.36. The forecasts range from a low of 10.10 to a high of $14.70. The average price target represents a decrease of 10.89% from its latest reported closing price of 13.87.

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The projected annual revenue for New York Community Bancorp is 2,201MM, an increase of 6.48%. The projected annual non-GAAP EPS is 1.18.

What is the Fund Sentiment?

There are 923 funds or institutions reporting positions in New York Community Bancorp. This is an increase of 34 owner(s) or 3.82% in the last quarter. Average portfolio weight of all funds dedicated to NYCB is 0.23%, an increase of 31.33%. Total shares owned by institutions increased in the last three months by 10.74% to 494,538K shares. The put/call ratio of NYCB is 0.61, indicating a bullish outlook.

What are Other Shareholders Doing?

IJH – iShares Core S&P Mid-Cap ETF holds 21,016K shares representing 2.91% ownership of the company. In it’s prior filing, the firm reported owning 21,008K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in NYCB by 0.64% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 20,058K shares representing 2.78% ownership of the company. In it’s prior filing, the firm reported owning 19,534K shares, representing an increase of 2.61%. The firm decreased its portfolio allocation in NYCB by 0.34% over the last quarter.

DVY – iShares Select Dividend ETF holds 18,512K shares representing 2.56% ownership of the company. In it’s prior filing, the firm reported owning 12,061K shares, representing an increase of 34.85%. The firm increased its portfolio allocation in NYCB by 81.74% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 16,938K shares representing 2.34% ownership of the company. In it’s prior filing, the firm reported owning 16,650K shares, representing an increase of 1.70%. The firm increased its portfolio allocation in NYCB by 2.63% over the last quarter.

KRE – SPDR(R) S&P Regional Banking(SM) ETF holds 12,485K shares representing 1.73% ownership of the company.

New York Community Bancorp Background Information
(This description is provided by the company.)

Based in Westbury, NY, New York Community Bancorp, Inc. is a leading producer of multi-family loans on non-luxury, rent-regulated apartment buildings in New York City, and the parent of New York Community Bank. At December 31, 2020, the Company reported assets of $56.3 billion, loans of $42.9 billion, deposits of $32.4 billion, and stockholders’ equity of $6.8 billion.

This article originally appeared on Fintel

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