New York Community Bancorp (NYSE:NYCB) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS

New York Community Bancorp (NYSE:NYCB) posted its quarterly earnings results on Friday. The financial services provider reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29), RTT News reports. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $621.72 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. During the same quarter last year, the firm earned $1.08 earnings per share.

New York Community Bancorp Stock Down 8.3 %

NYCB traded down $0.95 on Friday, reaching $10.55. The company’s stock had a trading volume of 18,531,372 shares, compared to its average volume of 8,349,230. New York Community Bancorp has a 1 year low of $5.10 and a 1 year high of $34.47. The business’s 50 day moving average is $11.11 and its 200 day moving average is $12.17. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -3.83 and a beta of 1.00.

New York Community Bancorp Announces Dividend

The firm also recently announced 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 payout ratio is -1.45%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays upgraded shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $14.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods lifted their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research report on Monday, July 15th. Wedbush reissued a “neutral” rating and issued a $31.50 price objective on shares of New York Community Bancorp in a research report on Friday, July 26th. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, StockNews.com upgraded New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, New York Community Bancorp presently has an average rating of “Hold” and a consensus price target of $17.48.

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.