FY2024 EPS Estimates for New York Community Bancorp, Inc. (NYSE:NYCB) Reduced by DA Davidson

New York Community Bancorp, Inc. (NYSE:NYCB) – Stock analysts at DA Davidson dropped their FY2024 earnings estimates for shares of New York Community Bancorp in a note issued to investors on Thursday, May 2nd. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings of ($0.43) per share for the year, down from their prior forecast of ($0.05). DA Davidson currently has a “Neutral” rating and a $5.00 price target on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($0.34) per share.

Several other research analysts also recently weighed in on NYCB. Raymond James downgraded shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 target price on the stock. in a research report on Monday, March 18th. TheStreet downgraded shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price objective for the company from $15.00 to $7.00 in a research report on Friday, February 2nd. Citigroup lowered their price objective on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.39.

New York Community Bancorp Stock Performance

New York Community Bancorp stock opened at $3.53 on Monday. The firm’s 50 day simple moving average is $3.36 and its 200-day simple moving average is $6.97. The company 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 debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. New York Community Bancorp has a fifty-two week low of $1.70 and a fifty-two week high of $14.22.

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

Hedge Funds Weigh In On New York Community Bancorp

Several large investors have recently bought and sold shares of NYCB. Norges Bank acquired a new position in shares of New York Community Bancorp in the 4th quarter valued at $77,628,000. Wellington Management Group LLP raised its stake in shares of New York Community Bancorp by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after buying an additional 4,723,876 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock valued at $58,242,000 after buying an additional 3,114,070 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of New York Community Bancorp by 353.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock valued at $28,953,000 after buying an additional 2,206,140 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of New York Community Bancorp by 187.4% during the 4th quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider’s stock worth $25,234,000 after purchasing an additional 1,608,267 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at New York Community Bancorp

In other news, CEO Thomas R. Cangemi acquired 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the purchase, the chief executive officer now owns 69,704 shares of the company’s stock, valued at $307,394.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Thomas R. Cangemi bought 11,310 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter Schoels bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $4.15 per share, with a total value of $415,000.00. Following the completion of the purchase, the director now owns 147,438 shares in the company, valued at $611,867.70. The disclosure for this purchase can be found here. Over the last three months, insiders bought 213,410 shares of company stock worth $875,626. 1.62% of the stock is owned by insiders.

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 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, June 6th. New York Community Bancorp’s payout ratio is 2,000.00%.

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.