New York Community Bancorp (NYSE:NYCB) Releases Quarterly Earnings Results, Misses Estimates By $0.63 EPS

New York Community Bancorp (NYSE:NYCB) released its quarterly earnings results on Thursday. The financial services provider reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.63), RTT News reports. 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 prior year, the business posted $1.41 EPS. The firm’s revenue for the quarter was down 44.2% compared to the same quarter last year.

New York Community Bancorp Price Performance

Shares of New York Community Bancorp stock traded up $0.61 during trading on Friday, hitting $11.22. 7,304,639 shares of the company’s stock traded hands, compared to its average volume of 8,515,661. The company has a market cap of $3.07 billion, a PE ratio of 374.00 and a beta of 0.99. The firm’s fifty day moving average price is $4.95 and its 200 day moving average price is $4.88. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $42.66. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.26.

New York Community Bancorp’s stock is going to reverse split on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 30th.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, June 7th. New York Community Bancorp’s payout ratio is 400.00%.

Analysts Set New Price Targets

Several research firms have weighed in on NYCB. Wedbush restated a “neutral” rating and set a $10.50 target price on shares of New York Community Bancorp in a report on Friday. Royal Bank of Canada decreased their target price on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Citigroup upped their price objective on shares of New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Finally, Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price for the company in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, New York Community Bancorp currently has an average rating of “Hold” and a consensus price target of $5.88.

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.