Analysts Offer Predictions for New York Community Bancorp, Inc.’s Q2 2024 Earnings (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Equities research analysts at Wedbush lowered their Q2 2024 EPS estimates for New York Community Bancorp in a report released on Wednesday, May 1st. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of ($0.04) per share for the quarter, down from their prior forecast of $0.07. Wedbush has a “Neutral” rating and a $3.50 price objective on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($0.34) per share. Wedbush also issued estimates for New York Community Bancorp’s Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.35) EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.35 EPS.

Several other equities analysts also recently commented on the company. Compass Point downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $8.00 in a research report on Thursday, February 1st. Citigroup decreased their price objective on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 7th. Royal Bank of Canada dropped their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. TheStreet downgraded shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft cut New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $15.00 to $7.00 in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Trading Up 3.3 %

Shares of NYSE NYCB opened at $3.65 on Monday. New York Community Bancorp has a fifty-two week low of $1.70 and a fifty-two week high of $14.22. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 364.50 and a beta of 0.95. The business’s 50 day moving average price is $3.34 and its 200-day moving average price is $6.92.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, topping 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 analyst estimates of $776.81 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue for the quarter was down 76.1% on a year-over-year basis.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 yield of 1.10%. New York Community Bancorp’s dividend payout ratio is presently 2,000.00%.

Insider Buying and Selling at New York Community Bancorp

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Moody Lynn & Lieberson LLC lifted 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 purchasing an additional 1,000 shares during the period. Kestra Private Wealth Services LLC lifted its stake in New York Community Bancorp by 5.0% during 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 acquiring an additional 1,118 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of New York Community Bancorp by 3.5% in the 3rd quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 1,204 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of New York Community Bancorp by 7.2% in the fourth quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 1,371 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of New York Community Bancorp by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 312,764 shares of the financial services provider’s stock worth $3,547,000 after purchasing an additional 1,590 shares during 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.