10 Best Bank Penny Stocks to Buy Now

Page 5 of 5

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

Number of Hedge Fund Holders: 28

Established in 1859, New York Community Bancorp, Inc. (NYSE:NYCB) is a holding company for Flagstar Bank, a leading provider of financial services in the US. The bank caters to individuals, small businesses, and professional groups, offering a vast range of products: deposit accounts, mortgages, commercial real estate loans, and various consumer loans. The company further enhances its services with cash management solutions, investment and insurance options, and convenient online and mobile banking.

Highlighting a promising future during its last earnings call, New York Community Bancorp, Inc. (NYSE:NYCB) revealed that it had secured over $1 billion in new equity and implemented a solid credit risk strategy. The company aims to achieve a Return on Average Assets (ROAA) of 1%, a Return on Tangible Common Equity (ROTCE) of 11-12%, and a Common Equity Tier 1 (CET1) ratio of 11-12% by the end of 2026.

According to 15 analysts’ forecasts for New York Community Bancorp, Inc. (NYCB), the average 12-month price target sits at $5.39, reflecting a potential upside of over 60%. The forecasts range from a low of $3 to a high of $12. Overall, 28 funds reported owning a stake in New York Community Bancorp, Inc. (NYSE:NYCB), making it one of the top bank penny stocks to buy now.

While we acknowledge the potential of New York Community Bancorp, Inc. as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than New York Community Bancorp but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 5 of 5