Q2 2024 Earnings Estimate for New York Community Bancorp, Inc. Issued By Wedbush (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB - Free Report) - Analysts at Wedbush cut their Q2 2024 earnings estimates for New York Community Bancorp in a research report issued on Monday, June 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of ($0.05) per share for the quarter, down from their prior estimate of ($0.04). Wedbush currently has a "Neutral" rating and a $3.50 target price on the stock. The consensus estimate for New York Community Bancorp's current full-year earnings is ($0.49) per share. Wedbush also issued estimates for New York Community Bancorp's Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.40) EPS, Q3 2025 earnings at $0.09 EPS, Q4 2025 earnings at $0.11 EPS and FY2025 earnings at $0.30 EPS.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. The firm had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. The business's revenue for the quarter was down 76.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS.

NYCB has been the subject of several other reports. Citigroup reduced their price objective on New York Community Bancorp from $5.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, March 7th. Raymond James lowered New York Community Bancorp from a "market perform" rating to an "underperform" rating and set a $3.00 price objective for the company. in a research note on Monday, March 18th. Morgan Stanley dropped their price objective on New York Community Bancorp from $6.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, March 7th. Barclays dropped their price objective on New York Community Bancorp from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Piper Sandler upgraded New York Community Bancorp from a "neutral" rating to an "overweight" rating and set a $4.00 price objective for the company in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, New York Community Bancorp currently has a consensus rating of "Hold" and an average target price of $5.39.

New York Community Bancorp Stock Up 2.7 %

NYSE:NYCB traded up $0.08 during mid-day trading on Wednesday, reaching $3.07. The stock had a trading volume of 14,778,255 shares, compared to its average volume of 28,178,422. The business's 50 day moving average is $3.27 and its 200 day moving average is $5.33. New York Community Bancorp has a fifty-two week low of $1.70 and a fifty-two week high of $14.22. The stock has a market cap of $2.52 billion, a P/E ratio of 307.00 and a beta of 0.98. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 1.26.

Hedge Funds Weigh In On New York Community Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its position in shares of New York Community Bancorp by 3,583.0% during the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider's stock worth $27,000 after purchasing an additional 8,026 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of New York Community Bancorp during the 3rd quarter valued at $28,000. Naples Money Management LLC bought a new stake in shares of New York Community Bancorp during the 4th quarter valued at $30,000. FinTrust Capital Advisors LLC lifted its position in shares of New York Community Bancorp by 66.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 3,876 shares during the period. Finally, KG&L Capital Management LLC acquired a new position in shares of New York Community Bancorp during the 1st quarter worth $32,000. Institutional investors own 67.88% of the company's stock.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, June 7th. New York Community Bancorp's dividend payout ratio is 400.00%.

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.