New York Community Bancorp, Inc. Expected to Post Q2 2024 Earnings of ($0.10) Per Share (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Stock analysts at DA Davidson issued their Q2 2024 earnings estimates for New York Community Bancorp in a report released on Thursday, May 2nd. DA Davidson analyst P. Winter forecasts that the financial services provider will earn ($0.10) per share for the quarter. 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 ($0.08) per share.

Several other analysts have also recently commented on the company. Barclays initiated coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an “equal weight” rating and a $4.00 price target for the company. Deutsche Bank Aktiengesellschaft cut shares of New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $7.00 in a research report on Friday, February 2nd. Compass Point lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective for the company in a research note on Wednesday. Finally, Morgan Stanley decreased 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. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.39.

New York Community Bancorp Price Performance

Shares of New York Community Bancorp stock opened at $3.53 on Friday. The stock has a market capitalization of $2.82 billion, a P/E ratio of 353.00 and a beta of 0.95. The business has a 50 day simple moving average of $3.36 and a two-hundred day simple moving average of $7.02. New York Community Bancorp has a 12 month low of $1.70 and a 12 month high of $14.22. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17.

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 for the quarter, topping the consensus estimate 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 firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company’s revenue for the quarter was down 76.1% on a year-over-year basis.

Hedge Funds Weigh In On New York Community Bancorp

Several institutional investors have recently bought and sold shares of NYCB. Wellington Management Group LLP boosted its stake in shares of New York Community Bancorp by 7.5% in the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after purchasing an additional 4,723,876 shares during the period. Norges Bank purchased a new position in New York Community Bancorp in the 4th quarter valued at approximately $77,628,000. Westfield Capital Management Co. LP boosted its position in New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock valued at $58,242,000 after buying an additional 3,114,070 shares during the period. Cannell & Co. grew its stake in shares of New York Community Bancorp by 12.3% in the fourth quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock worth $46,793,000 after acquiring an additional 500,545 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of New York Community Bancorp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider’s stock worth $46,579,000 after acquiring an additional 33,122 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New York Community Bancorp

In related news, Director Marshall Lux purchased 27,100 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the transaction, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Marshall Lux purchased 27,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Schoels purchased 100,000 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $4.15 per share, with a total value of $415,000.00. Following the completion of the transaction, the director now owns 147,438 shares of the company’s stock, valued at $611,867.70. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 213,410 shares of company stock worth $875,626. 1.62% of the stock is currently owned by company insiders.

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 issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, June 7th. New York Community Bancorp’s dividend payout ratio is presently 2,000.00%.

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.