Piper Sandler Comments on New York Community Bancorp, Inc.’s Q1 2020 Earnings (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Stock analysts at Piper Sandler cut their Q1 2020 EPS estimates for shares of New York Community Bancorp in a research note issued to investors on Monday, March 23rd. Piper Sandler analyst M. Fitzgibbon now forecasts that the financial services provider will post earnings per share of $0.19 for the quarter, down from their prior forecast of $0.20. Piper Sandler currently has a “Overweight” rating and a $13.00 target price on the stock. Piper Sandler also issued estimates for New York Community Bancorp’s Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.21 EPS, Q1 2021 earnings at $0.22 EPS, Q3 2021 earnings at $0.24 EPS and Q4 2021 earnings at $0.24 EPS.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $259.93 million during the quarter, compared to analysts’ expectations of $260.36 million. New York Community Bancorp had a return on equity of 6.40% and a net margin of 20.91%. During the same period in the prior year, the firm earned $0.19 earnings per share.

NYCB has been the subject of several other reports. Morgan Stanley reduced their price objective on New York Community Bancorp from $11.50 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, March 17th. ValuEngine raised New York Community Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $13.00 price objective on shares of New York Community Bancorp in a research report on Thursday, January 30th. Stephens reduced their price objective on New York Community Bancorp from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, B. Riley cut New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $11.50 in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.94.

NYCB stock opened at $10.15 on Thursday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $4.54 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.11 and a beta of 0.88. The business has a 50-day moving average of $10.95 and a 200-day moving average of $11.88. New York Community Bancorp has a fifty-two week low of $8.76 and a fifty-two week high of $13.79.

A number of hedge funds have recently made changes to their positions in NYCB. RMR Wealth Builders acquired a new position in shares of New York Community Bancorp during the 4th quarter worth about $34,000. Clear Harbor Asset Management LLC bought a new position in New York Community Bancorp during the fourth quarter worth about $36,000. Howard Wealth Management LLC bought a new position in New York Community Bancorp during the fourth quarter worth about $36,000. PSI Advisors LLC bought a new position in New York Community Bancorp during the fourth quarter worth about $39,000. Finally, Horizon Bancorp Inc. IN acquired a new position in New York Community Bancorp during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 61.27% of the company’s stock.

In related news, Director Lawrence J. Savarese purchased 3,000 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $9.68 per share, with a total value of $29,040.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.31% of the stock is owned by company insiders.

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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