Zacks: Brokerages Anticipate New York Community Bancorp, Inc. (NYCB) Will Announce Earnings of $0.20 Per Share
Wall Street analysts forecast that New York Community Bancorp, Inc. (NYSE:NYCB) will post earnings per share of $0.20 for the current quarter, Zacks reports. Five analysts have made estimates for New York Community Bancorp’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.19. New York Community Bancorp posted earnings of $0.26 per share during the same quarter last year, which suggests a negative year over year growth rate of 23.1%. The firm is scheduled to report its next earnings report on Wednesday, July 26th.
According to Zacks, analysts expect that New York Community Bancorp will report full year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.78 to $0.84. For the next fiscal year, analysts forecast that the firm will post earnings of $0.84 per share, with EPS estimates ranging from $0.76 to $0.91. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for New York Community Bancorp.
New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business had revenue of $327.09 million during the quarter, compared to analysts’ expectations of $342.04 million. New York Community Bancorp had a return on equity of 7.72% and a net margin of 26.19%. During the same quarter in the previous year, the company posted $0.27 EPS.
A number of brokerages have issued reports on NYCB. FIG Partners reiterated a “market-perform” rating on shares of New York Community Bancorp in a research report on Tuesday, March 14th. BidaskClub raised New York Community Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods set a $15.00 price objective on New York Community Bancorp and gave the stock a “hold” rating in a research note on Tuesday, April 4th. Stephens initiated coverage on New York Community Bancorp in a research note on Wednesday, April 5th. They issued an “equal weight” rating on the stock. Finally, FBR & Co dropped their price objective on New York Community Bancorp from $14.00 to $13.00 and set an “underperform” rating on the stock in a research note on Friday, April 7th. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.50.
New York Community Bancorp (NYSE:NYCB) traded down 0.60% on Friday, reaching $13.29. The company’s stock had a trading volume of 7,597,206 shares. The firm has a market capitalization of $6.50 billion, a P/E ratio of 13.99 and a beta of 0.58. The firm has a 50-day moving average price of $13.15 and a 200 day moving average price of $14.60. New York Community Bancorp has a 52-week low of $12.67 and a 52-week high of $17.68.
The business also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Monday, May 8th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date was Thursday, May 4th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 70.83%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of New York Community Bancorp by 3.1% in the first quarter. Pacer Advisors Inc. now owns 9,389 shares of the financial services provider’s stock worth $131,000 after buying an additional 284 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of New York Community Bancorp during the first quarter worth $140,000. National Asset Management Inc. acquired a new position in shares of New York Community Bancorp during the first quarter worth $161,000. Fiera Capital Corp acquired a new position in shares of New York Community Bancorp during the fourth quarter worth $164,000. Finally, Ellington Management Group LLC acquired a new position in shares of New York Community Bancorp during the fourth quarter worth $164,000. Institutional investors and hedge funds own 58.18% of the company’s stock.
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About New York Community Bancorp
New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.
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