New York Community Bancorp (NYSE:NYCB) Releases FY 2024 Earnings Guidance

New York Community Bancorp (NYSE:NYCB) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of -3.100–3.000 for the period, compared to the consensus EPS estimate of -2.460. The company issued revenue guidance of -. New York Community Bancorp also updated its FY 2025 guidance to -0.350–0.300 EPS.

New York Community Bancorp Trading Down 8.1 %

Shares of NYCB traded down $0.93 during trading on Friday, reaching $10.57. 18,525,262 shares of the company traded hands, compared to its average volume of 8,349,230. The stock has a 50-day simple moving average of $11.11 and a 200-day simple moving average of $12.17. The stock has a market cap of $4.39 billion, a PE ratio of -3.83 and a beta of 1.00. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $34.47. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($1.89). The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. New York Community Bancorp’s quarterly revenue was down 44.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.23 EPS. On average, analysts anticipate that New York Community Bancorp will post -2.41 earnings per share for the current year.

New York Community Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Saturday, December 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. New York Community Bancorp’s dividend payout ratio is currently -1.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NYCB shares. JPMorgan Chase & Co. raised their price objective on shares of New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wedbush restated a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a research note on Friday, July 26th. Barclays raised New York Community Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $14.00 in a research report on Thursday, September 26th. StockNews.com raised New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Finally, Citigroup upped their price target on New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, New York Community Bancorp currently has a consensus rating of “Hold” and an average target price of $17.48.

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.