Zacks: Analysts Anticipate New York Community Bancorp, Inc. (NYSE:NYCB) Will Post Quarterly Sales of $355.07 Million

Analysts expect that New York Community Bancorp, Inc. (NYSE:NYCBGet Rating) will report $355.07 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for New York Community Bancorp’s earnings, with the highest sales estimate coming in at $361.54 million and the lowest estimate coming in at $345.20 million. New York Community Bancorp reported sales of $347.00 million in the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that New York Community Bancorp will report full-year sales of $1.43 billion for the current financial year, with estimates ranging from $1.41 billion to $1.46 billion. For the next year, analysts expect that the firm will post sales of $1.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover New York Community Bancorp.

New York Community Bancorp (NYSE:NYCBGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $346.00 million for the quarter, compared to the consensus estimate of $347.81 million. New York Community Bancorp had a net margin of 34.51% and a return on equity of 9.80%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS.

A number of equities analysts recently weighed in on NYCB shares. StockNews.com started coverage on shares of New York Community Bancorp in a report on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet downgraded shares of New York Community Bancorp from a “b” rating to a “c+” rating in a report on Thursday, May 5th. B. Riley cut their price target on shares of New York Community Bancorp from $19.00 to $16.00 in a report on Tuesday, April 12th. Finally, Stephens downgraded shares of New York Community Bancorp from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $12.00 to $9.00 in a report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.62.

Institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of New York Community Bancorp by 40.1% during the first quarter. FMR LLC now owns 31,397 shares of the financial services provider’s stock valued at $363,000 after buying an additional 8,981 shares during the period. US Bancorp DE increased its position in shares of New York Community Bancorp by 37.2% during the third quarter. US Bancorp DE now owns 57,099 shares of the financial services provider’s stock valued at $735,000 after buying an additional 15,475 shares during the period. American Century Companies Inc. increased its position in shares of New York Community Bancorp by 47.6% during the third quarter. American Century Companies Inc. now owns 100,799 shares of the financial services provider’s stock valued at $1,297,000 after buying an additional 32,526 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of New York Community Bancorp by 25.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 123,555 shares of the financial services provider’s stock valued at $1,590,000 after buying an additional 25,050 shares during the period. Finally, CI Investments Inc. increased its position in shares of New York Community Bancorp by 9.0% during the third quarter. CI Investments Inc. now owns 19,810 shares of the financial services provider’s stock valued at $255,000 after buying an additional 1,634 shares during the period. Institutional investors and hedge funds own 61.01% of the company’s stock.

NYCB opened at $9.70 on Wednesday. The firm’s fifty day moving average price is $10.06 and its two-hundred day moving average price is $11.35. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.73 and a beta of 0.96. New York Community Bancorp has a 1 year low of $8.73 and a 1 year high of $14.33.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Monday, May 9th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Friday, May 6th. New York Community Bancorp’s dividend payout ratio is currently 56.20%.

About New York Community Bancorp (Get Rating)

New York Community Bancorp, Inc operates as the bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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Earnings History and Estimates for New York Community Bancorp (NYSE:NYCB)

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