New York Community Bancorp, Inc. (NYSE:NYCB) to Post Q2 2024 Earnings of ($0.10) Per Share, DA Davidson Forecasts

New York Community Bancorp, Inc. (NYSE:NYCB) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for New York Community Bancorp in a report released on Thursday, May 2nd. DA Davidson analyst P. Winter anticipates 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 target on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($0.11) per share.

A number of other brokerages have also commented on NYCB. Piper Sandler raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective on the stock in a report on Wednesday. Morgan Stanley decreased their target price on 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. Raymond James cut shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price objective for the company. in a research note on Monday, March 18th. Barclays assumed coverage on shares of New York Community Bancorp in a report on Friday, March 8th. They set an “equal weight” rating and a $4.00 price objective for the company. Finally, Jefferies Financial Group downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.00 to $7.00 in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, New York Community Bancorp presently has a consensus rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Trading Up 4.7 %

New York Community Bancorp stock opened at $3.53 on Friday. New York Community Bancorp has a one year low of $1.70 and a one year high of $14.22. The company’s fifty day moving average price is $3.36 and its two-hundred day moving average price is $6.99. 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 debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 0.62% and a return on equity of 2.78%. New York Community Bancorp’s revenue for the quarter was down 76.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS.

New York Community Bancorp Cuts Dividend

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

Insiders Place Their Bets

In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $4.41 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 acquired at an average price of $4.41 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Matthew Smith purchased 25,000 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the transaction, the executive vice president now directly 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 acquired 213,410 shares of company stock worth $875,626 over the last 90 days. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds have recently made changes to their positions in NYCB. Moody Lynn & Lieberson LLC increased its holdings in shares of New York Community Bancorp by 7.1% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 15,150 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,000 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in New York Community Bancorp by 5.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,282 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,118 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in New York Community Bancorp by 3.5% in the third quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 1,204 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of New York Community Bancorp by 7.2% during the fourth quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of New York Community Bancorp by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 312,764 shares of the financial services provider’s stock valued at $3,547,000 after buying an additional 1,590 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.