DA Davidson Comments on New York Community Bancorp, Inc.’s FY2024 Earnings (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Investment analysts at DA Davidson cut their FY2024 EPS estimates for shares of New York Community Bancorp in a research report issued on Thursday, May 2nd. DA Davidson analyst P. Winter now anticipates that the financial services provider will earn ($0.43) per share for the year, down from their prior estimate 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.

A number of other equities research analysts also recently issued reports on NYCB. Wedbush raised shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target for the company in a report on Wednesday, May 1st. Citigroup decreased their price target on shares of 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. StockNews.com raised New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Finally, TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Stock Up 0.5 %

Shares of NYSE NYCB opened at $3.67 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The company has a market cap of $2.93 billion, a P/E ratio of 367.00 and a beta of 0.95. New York Community Bancorp has a 52 week low of $1.70 and a 52 week high of $14.22. The business has a 50-day simple moving average of $3.32 and a two-hundred day simple moving average of $6.88.

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

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders 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 dividend yield of 1.09%. New York Community Bancorp’s payout ratio is 2,000.00%.

Insider Activity

In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the purchase, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Thomas R. Cangemi bought 11,310 shares of the stock in a transaction dated Friday, February 9th. The stock was bought 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 in the company, valued at approximately $307,394.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Schoels purchased 100,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the transaction, the director now owns 147,438 shares in the company, valued at $611,867.70. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 213,410 shares of company stock valued at $875,626. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NYCB. Versant Capital Management Inc lifted its stake in New York Community Bancorp by 3,583.0% in the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 8,026 shares during the period. Orion Capital Management LLC bought a new position in New York Community Bancorp in the 3rd quarter worth $28,000. Loomis Sayles & Co. L P purchased a new stake in shares of New York Community Bancorp in the 3rd quarter worth about $29,000. Naples Money Management LLC bought a new stake in shares of New York Community Bancorp during the 4th quarter valued at about $30,000. Finally, FinTrust Capital Advisors LLC increased its position in shares of New York Community Bancorp by 66.9% during 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 period. 67.88% of the stock is currently owned by institutional investors.

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.