New York Community Bancorp, Inc. to Post FY2024 Earnings of ($0.43) Per Share, DA Davidson Forecasts (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB - Free Report) - DA Davidson lowered their FY2024 EPS estimates for shares of New York Community Bancorp in a note issued to investors on Thursday, May 2nd. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings per share of ($0.43) for the year, down from their previous forecast of ($0.05). DA Davidson has a "Neutral" rating and a $5.00 price target on the stock. The consensus estimate for New York Community Bancorp's current full-year earnings is ($0.34) per share.

A number of other analysts also recently issued reports on the stock. Bank of America downgraded shares of New York Community Bancorp from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $8.50 to $5.00 in a report on Wednesday, February 7th. Barclays began coverage on shares of New York Community Bancorp in a report on Friday, March 8th. They set an "equal weight" rating and a $4.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of New York Community Bancorp from $5.00 to $4.00 and set a "sector perform" rating for the company in a report on Tuesday, April 9th. JPMorgan Chase & Co. lowered shares of New York Community Bancorp from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. Finally, UBS Group lowered shares of New York Community Bancorp from a "buy" rating to a "neutral" rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.39.

New York Community Bancorp Stock Performance

NYSE NYCB traded up $0.12 during trading hours on Monday, reaching $3.65. 18,371,180 shares of the company were exchanged, compared to its average volume of 34,176,246. New York Community Bancorp has a 1 year low of $1.70 and a 1 year high of $14.22. The business's 50 day simple moving average is $3.34 and its 200-day simple moving average is $6.92. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The stock has a market capitalization of $2.91 billion, a P/E ratio of 364.50 and a beta of 0.95.

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

Hedge Funds Weigh In On New York Community Bancorp

A number of hedge funds have recently bought and sold shares of NYCB. Wellington Management Group LLP increased its position in shares of New York Community Bancorp by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider's stock valued at $767,366,000 after purchasing an additional 4,723,876 shares during the last quarter. Norges Bank purchased a new stake in shares of New York Community Bancorp during the 4th quarter valued at about $77,628,000. Westfield Capital Management Co. LP increased its position in shares of New York Community Bancorp by 154.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider's stock valued at $58,242,000 after purchasing an additional 3,114,070 shares during the last quarter. Cannell & Co. increased its position in shares of New York Community Bancorp by 12.3% during the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider's stock valued at $46,793,000 after purchasing an additional 500,545 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of New York Community Bancorp by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider's stock valued at $46,579,000 after purchasing an additional 33,122 shares during the last quarter. Institutional investors own 67.88% of the company's stock.

Insider Buying and Selling at New York Community Bancorp

In related news, CEO Thomas R. Cangemi acquired 11,310 shares of New York Community Bancorp stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the transaction, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of the company's stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Marshall Lux bought 27,100 shares of the company's stock in a transaction dated Thursday, March 21st. The shares were acquired at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the acquisition, the director now owns 64,872 shares in the company, valued at approximately $239,377.68. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is currently owned by company insiders.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 6th. New York Community Bancorp's payout ratio is currently 2,000.00%.

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.