Equities Analysts Set Expectations for New York Community Bancorp, Inc.’s Q2 2024 Earnings (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Wedbush reduced their Q2 2024 EPS estimates for shares of New York Community Bancorp in a research note issued on Wednesday, May 1st. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn ($0.04) per share for the quarter, down from their prior estimate of $0.07. Wedbush has a “Neutral” rating and a $3.50 price objective on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($0.34) per share. Wedbush also issued estimates for New York Community Bancorp’s Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.35) EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.35 EPS.

A number of other research firms have also recently issued reports on NYCB. Citigroup decreased their price target on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 7th. Jefferies Financial Group cut shares of New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their target price for the company from $13.00 to $7.00 in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $7.00 in a report on Friday, February 2nd. Raymond James lowered 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 research note on Monday, March 18th. Finally, DA Davidson cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $8.50 to $5.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, New York Community Bancorp has a consensus rating of “Hold” and a consensus target price of $5.39.

New York Community Bancorp Stock Up 0.5 %

NYSE:NYCB opened at $3.67 on Monday. New York Community Bancorp has a 1-year low of $1.70 and a 1-year high of $14.22. The business’s fifty day moving average price is $3.32 and its 200 day moving average price is $6.88. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 367.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business had revenue of $633.00 million during the quarter, compared to analyst estimates of $776.81 million. During the same quarter last year, the company posted $0.23 EPS. New York Community Bancorp’s revenue for the quarter was down 76.1% on a year-over-year basis.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 dividend on an annualized basis and a yield of 1.09%. New York Community Bancorp’s dividend payout ratio is presently 2,000.00%.

Insider Buying and Selling at New York Community Bancorp

In other news, CEO Thomas R. Cangemi bought 11,310 shares of the stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $4.41 per share, with a total value of $49,877.10. Following the completion of the purchase, the chief executive officer now owns 69,704 shares of the company’s stock, valued at $307,394.64. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Alessandro Dinello acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $4.19 per share, for a total transaction of $209,500.00. Following the completion of the acquisition, the chairman now directly owns 114,305 shares in the company, valued at approximately $478,937.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the company’s stock in a transaction on Friday, February 9th. The stock was purchased at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Moody Lynn & Lieberson LLC lifted its holdings in New York Community Bancorp by 7.1% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 15,150 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,000 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in New York Community Bancorp by 5.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,282 shares of the financial services provider’s stock worth $264,000 after buying an additional 1,118 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of New York Community Bancorp by 3.5% in the 3rd quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider’s stock worth $406,000 after buying an additional 1,204 shares during the last quarter. HB Wealth Management LLC raised its position in shares of New York Community Bancorp by 7.2% during the 4th quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider’s stock valued at $208,000 after buying an additional 1,371 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of New York Community Bancorp by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 312,764 shares of the financial services provider’s stock worth $3,547,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.