RBC Capital Thinks NY Community’s Stock is Going to Recover

In a report issued on July 13, Jon Arfstrom from RBC Capital maintained a Buy rating on NY Community (NYCBResearch Report), with a price target of $12.00. The company’s shares closed last Thursday at $9.10, close to its 52-week low of $8.50.

According to TipRanks.com, Arfstrom is a 5-star analyst with an average return of 20.1% and a 53.5% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Old National Bancorp Capital, and Provident Financial Services.

The word on The Street in general, suggests a Hold analyst consensus rating for NY Community with a $10.75 average price target.

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Based on NY Community’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $346 million and net profit of $155 million. In comparison, last year the company earned revenue of $332 million and had a net profit of $145 million.

Based on the recent corporate insider activity of 49 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.

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