New York Community Bancorp (NYCB) Set to Announce Quarterly Earnings on Friday

New York Community Bancorp (NYSE:NYCB) is scheduled to release its earnings data on Friday, April 26th.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. During the same period last year, the company posted $0.25 earnings per share. On average, analysts expect New York Community Bancorp to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

New York Community Bancorp Stock Down 3.8 %

Shares of New York Community Bancorp stock opened at $3.06 on Thursday. The company has a fifty day moving average price of $3.58 and a 200 day moving average price of $7.37. 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 twelve month low of $1.70 and a twelve month high of $14.22. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 0.92 and a beta of 0.91.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 6.54%. New York Community Bancorp’s dividend payout ratio (DPR) is 6.01%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NYCB. Wedbush decreased their price target on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a research report on Thursday, March 7th. DA Davidson lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.50 to $5.00 in a report on Thursday, February 8th. JPMorgan Chase & Co. lowered shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $11.50 to $5.50 in a report on Wednesday, February 7th. Raymond James lowered 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 report on Monday, March 18th. Finally, TheStreet lowered shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Monday, February 5th. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat, New York Community Bancorp presently has a consensus rating of “Hold” and an average price target of $5.43.

Insider Activity

In related news, CEO Thomas R. Cangemi bought 11,310 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other New York Community Bancorp news, Director Peter Schoels acquired 100,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares of the company’s stock, valued at $307,394.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 213,410 shares of company stock worth $875,626. 1.62% of the stock is currently owned by corporate insiders.

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.