Analysts Anticipate New York Community Bancorp, Inc. (NYSE:NYCB) Will Post Earnings of $0.19 Per Share

Analysts forecast that New York Community Bancorp, Inc. (NYSE:NYCB) will post $0.19 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for New York Community Bancorp’s earnings, with estimates ranging from $0.13 to $0.22. New York Community Bancorp also posted earnings per share of $0.19 during the same quarter last year. The business is expected to report its next earnings results before the market opens on Wednesday, October 28th.

On average, analysts expect that New York Community Bancorp will report full year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.77 to $0.94. For the next year, analysts anticipate that the business will post earnings of $1.02 per share, with EPS estimates ranging from $0.90 to $1.15. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. New York Community Bancorp had a net margin of 21.57% and a return on equity of 6.43%. The firm had revenue of $281.25 million during the quarter, compared to analyst estimates of $276.23 million. During the same quarter last year, the business earned $0.19 EPS.

Several analysts have recently commented on NYCB shares. Deutsche Bank raised their price objective on shares of New York Community Bancorp from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $12.00 price objective on shares of New York Community Bancorp in a research report on Monday, July 20th. Morgan Stanley raised their price objective on shares of New York Community Bancorp from $10.50 to $11.00 and gave the stock an “underweight” rating in a research report on Monday, June 8th. Piper Sandler reduced their price objective on shares of New York Community Bancorp from $12.50 to $10.50 and set an “overweight” rating for the company in a research report on Monday. Finally, Wedbush raised their price objective on shares of New York Community Bancorp from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $11.75.

New York Community Bancorp stock traded down $0.08 during mid-day trading on Friday, hitting $8.19. 274,580 shares of the stock were exchanged, compared to its average volume of 4,406,801. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 2.42. New York Community Bancorp has a 12 month low of $8.07 and a 12 month high of $13.79. The firm’s fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $9.81. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.02 and a beta of 0.84.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP raised its stake in shares of New York Community Bancorp by 7.6% during the 2nd quarter. Two Sigma Advisers LP now owns 50,700 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 3,600 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in New York Community Bancorp by 163.3% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 117,528 shares of the financial services provider’s stock valued at $1,199,000 after buying an additional 72,899 shares in the last quarter. Principal Financial Group Inc. grew its holdings in New York Community Bancorp by 3.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,425,505 shares of the financial services provider’s stock valued at $14,540,000 after buying an additional 42,761 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in New York Community Bancorp during the 2nd quarter valued at about $807,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in New York Community Bancorp by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,503,558 shares of the financial services provider’s stock valued at $25,537,000 after buying an additional 25,602 shares in the last quarter. 60.75% of the stock is owned by institutional investors and hedge funds.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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Earnings History and Estimates for New York Community Bancorp (NYSE:NYCB)

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