New York Community Bancorp, Inc. (NYSE:NYCB) Expected to Post Q3 2024 Earnings of ($0.30) Per Share

New York Community Bancorp, Inc. (NYSE:NYCB) – Stock analysts at Wedbush reduced their Q3 2024 earnings per share (EPS) estimates for shares of New York Community Bancorp in a report issued on Wednesday, October 9th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn ($0.30) per share for the quarter, down from their prior forecast of ($0.27). Wedbush has a “Neutral” rating and a $31.50 price objective on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($2.42) per share. Wedbush also issued estimates for New York Community Bancorp’s Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($2.20) EPS, Q1 2025 earnings at ($0.10) EPS and Q2 2025 earnings at ($0.03) EPS.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing the consensus estimate of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The business had revenue of $671.00 million for the quarter, compared to the consensus estimate of $722.47 million. During the same quarter in the previous year, the company earned $4.23 EPS. The firm’s revenue for the quarter was down 44.2% on a year-over-year basis.

Several other research analysts have also issued reports on the company. Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $14.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods increased their price objective on New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research note on Monday, July 15th. Citigroup increased their price target on New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Raymond James raised New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. increased their price target on New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.48.

New York Community Bancorp Trading Down 0.4 %

Shares of NYSE:NYCB opened at $10.96 on Friday. The business’s 50 day simple moving average is $10.69 and its two-hundred day simple moving average is $12.01. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. New York Community Bancorp has a 52-week low of $5.10 and a 52-week high of $34.47.

Institutional Investors Weigh In On New York Community Bancorp

Several large investors have recently added to or reduced their stakes in the business. Moody National Bank Trust Division raised its position in New York Community Bancorp by 49.6% during the first quarter. Moody National Bank Trust Division now owns 32,481 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 10,770 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of New York Community Bancorp by 24.6% in the fourth quarter. Virtu Financial LLC now owns 70,945 shares of the financial services provider’s stock worth $726,000 after buying an additional 14,011 shares during the period. Fulton Bank N.A. purchased a new position in shares of New York Community Bancorp in the first quarter worth about $111,000. Algert Global LLC increased its holdings in shares of New York Community Bancorp by 144.5% in the second quarter. Algert Global LLC now owns 461,902 shares of the financial services provider’s stock worth $1,487,000 after buying an additional 273,002 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of New York Community Bancorp in the second quarter worth about $575,000. Institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, September 6th. New York Community Bancorp’s payout ratio is currently -1.45%.

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.