Is NYCB a good buy?

New York Community Bancorp, Inc. (NYCB) does not appear to be a good buy at this time, and here's why:

1. Financial Performance: NYCB reported a net loss of $327 million and a negative return on equity (ROE) of -4%, indicating that the company is not profitable and is losing money relative to its shareholders' equity.

2. Valuation Concerns: The price-to-earnings (P/E) ratio is -1.58, which is negative and suggests that the company is not generating earnings relative to its stock price. Additionally, the price-to-book (P/B) ratio is 0.51, indicating that the stock is trading at a discount to its book value.

3. Market Sentiment: The average 1-year price target for NYCB is $4.15, with a low forecast of $3.54 and a high forecast of $6.3. This suggests that analysts have a mixed view on the stock's future performance, with some expecting a slight increase in price, while others anticipate a more significant increase.

4. Operational Challenges: NYCB has faced operational challenges, including deposit outflows and a decline in revenue, which could impact its financial stability and growth prospects.

5. Strategic Positioning: The company's strategic priorities, such as improving capital and liquidity, returning to normalized profitability, and addressing franchise turnaround challenges, are positive in the long term. However, these strategies may not be sufficient to offset the immediate financial struggles.

In conclusion, NYCB's financial performance, negative valuation metrics, and current market sentiment do not support the notion that it is a good buy at this time. Investors should exercise caution and consider these factors before making an investment decision.