New York Community Bancorp (NYSE:NYCB) Announces Earnings Results, Misses Estimates By $0.29 EPS

New York Community Bancorp (NYSE:NYCB) posted its quarterly earnings data on Friday. The financial services provider reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.29), RTT News reports. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $621.72 million. During the same quarter in the previous year, the firm posted $1.08 EPS.

New York Community Bancorp Trading Down 8.3 %

NYSE:NYCB traded down $0.95 during trading hours on Friday, hitting $10.55. 18,531,372 shares of the stock were exchanged, compared to its average volume of 8,349,230. The company’s 50 day moving average is $11.11 and its two-hundred day moving average is $12.17. The company has a market capitalization of $4.38 billion, a P/E ratio of -3.83 and a beta of 1.00. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $34.47. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66.

New York Community Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Saturday, December 7th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.38%. New York Community Bancorp’s dividend payout ratio (DPR) is presently -1.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a report on Monday, July 15th. Citigroup upped their target price on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Finally, Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $10.00 to $14.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.48.

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.