Brokers Offer Predictions for New York Community Bancorp, Inc.’s Q2 2024 Earnings (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Research analysts at Wedbush dropped their Q2 2024 earnings per share estimates for shares of New York Community Bancorp in a research report issued on Wednesday, May 1st. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of ($0.04) for the quarter, down from their prior estimate of $0.07. Wedbush has a “Neutral” rating and a $3.50 price objective on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($0.34) per share. Wedbush also issued estimates for New York Community Bancorp’s Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.35) EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.35 EPS.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results 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 company had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The firm’s quarterly revenue was down 76.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $11.50 to $5.50 in a report on Wednesday, February 7th. DA Davidson cut New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.50 to $5.00 in a report on Thursday, February 8th. Bank of America lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.50 to $5.00 in a report on Wednesday, February 7th. Compass Point lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $8.00 in a research note on Thursday, February 1st. Finally, Morgan Stanley dropped their price target on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New York Community Bancorp currently has an average rating of “Hold” and an average target price of $5.39.

New York Community Bancorp Price Performance

New York Community Bancorp stock opened at $3.53 on Monday. 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 stock has a market cap of $2.82 billion, a P/E ratio of 353.00 and a beta of 0.95. The company has a 50-day moving average price of $3.36 and a 200 day moving average price of $6.97. New York Community Bancorp has a 12-month low of $1.70 and a 12-month high of $14.22.

Institutional Trading of New York Community Bancorp

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in shares of New York Community Bancorp by 3,583.0% in the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after buying an additional 8,026 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of New York Community Bancorp during the third quarter worth about $28,000. Loomis Sayles & Co. L P acquired a new stake in shares of New York Community Bancorp during the third quarter worth about $29,000. Naples Money Management LLC purchased a new stake in New York Community Bancorp in the fourth quarter valued at approximately $30,000. Finally, FinTrust Capital Advisors LLC lifted its stake in New York Community Bancorp by 66.9% in the first quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock valued at $31,000 after buying an additional 3,876 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at New York Community Bancorp

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.41 per share, with a total value of $49,877.10. Following the transaction, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Marshall Lux acquired 27,100 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, with a total value of $99,999.00. Following the transaction, the director now owns 64,872 shares in the company, valued at $239,377.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas R. Cangemi bought 11,310 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $4.41 per share, with a total value of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 213,410 shares of company stock worth $875,626. Company insiders own 1.62% of the company’s stock.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 dividend on an annualized basis and a yield of 1.13%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 2,000.00%.

New York Community Bancorp Company Profile

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.