FY2024 Earnings Estimate for New York Community Bancorp, Inc. Issued By DA Davidson (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Analysts at DA Davidson decreased their FY2024 earnings per share estimates for shares of New York Community Bancorp in a report issued on Thursday, May 2nd. DA Davidson analyst P. Winter now expects 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 has a “Neutral” rating and a $5.00 price objective on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($0.34) per share.

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 (EPS) for the quarter, beating 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 company had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. New York Community Bancorp’s revenue was down 76.1% on a year-over-year basis.

NYCB has been the topic of several other reports. 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 research note on Wednesday, May 1st. 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 on the stock. in a research report on Monday, March 18th. Morgan Stanley reduced their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. JPMorgan Chase & Co. cut shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $11.50 to $5.50 in a research note on Wednesday, February 7th. Finally, Barclays assumed coverage on shares of New York Community Bancorp in a research report on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price objective on the stock. 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 company. According to MarketBeat.com, the company currently has an average 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 current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. New York Community Bancorp has a 12-month low of $1.70 and a 12-month high of $14.22. The firm’s 50-day moving average price is $3.32 and its 200-day moving average price is $6.88. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 367.00 and a beta of 0.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in New York Community Bancorp by 3,583.0% during the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 8,026 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of New York Community Bancorp during the third quarter valued at $28,000. Loomis Sayles & Co. L P acquired a new position in shares of New York Community Bancorp in the 3rd quarter valued at $29,000. Naples Money Management LLC purchased a new position in New York Community Bancorp in the 4th quarter worth $30,000. Finally, FinTrust Capital Advisors LLC lifted its position in New York Community Bancorp by 66.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 3,876 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Lee Matthew Smith acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the purchase, the executive vice president now directly owns 1,440,683 shares of the company’s stock, valued at approximately $5,834,766.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Thomas R. Cangemi purchased 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the acquisition, the chief executive officer now owns 69,704 shares of the company’s stock, valued at $307,394.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lee Matthew Smith purchased 25,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the transaction, the executive vice president now owns 1,440,683 shares of the company’s stock, valued at approximately $5,834,766.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 213,410 shares of company stock worth $875,626. Corporate insiders own 1.62% of the company’s stock.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 annualized dividend and a dividend yield of 1.09%. New York Community Bancorp’s payout ratio 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.