New York Community Bancorp, Inc. (NYSE:NYCB) Forecasted to Earn Q2 2024 Earnings of ($0.10) Per Share

New York Community Bancorp, Inc. (NYSE:NYCB) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of New York Community Bancorp in a research report issued on Thursday, May 2nd. DA Davidson analyst P. Winter forecasts that the financial services provider will earn ($0.10) per share for the quarter. DA Davidson has a “Neutral” rating and a $5.00 price objective on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($0.08) per share.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. The business had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business’s revenue was down 76.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 earnings per share.

A number of other brokerages also recently commented on NYCB. Wedbush upgraded shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $3.00 to $3.50 in a report on Wednesday. Barclays started coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They issued an “equal weight” rating and a $4.00 target price for the company. Piper Sandler raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target on the stock in a research note on Wednesday. Citigroup decreased their price objective on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Finally, Raymond James lowered New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 target price for the company. in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Trading Up 4.7 %

Shares of NYCB stock opened at $3.53 on Friday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 353.00 and a beta of 0.95. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The firm has a 50-day moving average price of $3.36 and a 200 day moving average price of $7.02. New York Community Bancorp has a twelve month low of $1.70 and a twelve month high of $14.22.

New York Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, June 7th. New York Community Bancorp’s dividend payout ratio is currently 2,000.00%.

Insider Activity

In other New York Community Bancorp news, EVP Lee Matthew Smith bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $4.05 per share, with a total value of $101,250.00. Following the transaction, the executive vice president now owns 1,440,683 shares in the company, valued at $5,834,766.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Matthew Smith acquired 25,000 shares of New York Community Bancorp stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the purchase, the executive vice president now owns 1,440,683 shares of the company’s stock, valued at $5,834,766.15. The disclosure for this purchase can be found here. Insiders have bought 213,410 shares of company stock valued at $875,626 in the last three months. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of New York Community Bancorp by 1,237.8% during the fourth quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock valued at $47,324,000 after purchasing an additional 447,937 shares during the period. Nordea Investment Management AB acquired a new position in New York Community Bancorp in the 4th quarter worth $1,755,000. AQR Capital Management LLC lifted its holdings in New York Community Bancorp by 212.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock worth $22,444,000 after buying an additional 1,348,601 shares in the last quarter. Pacer Advisors Inc. boosted its position in New York Community Bancorp by 79.2% in the 4th quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock valued at $1,111,000 after buying an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of New York Community Bancorp by 7.9% during the fourth quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock valued at $1,773,000 after acquiring an additional 12,700 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About New York Community Bancorp

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.