New York Community Bancorp (NYSE:NYCB) Issues Quarterly Earnings Results

New York Community Bancorp (NYSE:NYCB) announced its quarterly earnings results on Wednesday. The financial services provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01, Briefing.com reports. The business had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business’s quarterly revenue was down 76.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS.

New York Community Bancorp Trading Up 4.7 %

Shares of NYCB stock traded up $0.16 during trading on Friday, hitting $3.53. 26,498,406 shares of the stock traded hands, compared to its average volume of 34,359,766. The firm has a market capitalization of $2.82 billion, a P/E ratio of 351.00 and a beta of 0.95. New York Community Bancorp has a 52-week low of $1.70 and a 52-week high of $14.22. The firm’s fifty day moving average price is $3.38 and its 200-day moving average price is $7.07. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17.

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 given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.04 dividend on an annualized basis and a yield of 1.13%. New York Community Bancorp’s payout ratio is 2,000.00%.

Insider Buying and Selling

In other New York Community Bancorp news, EVP Lee Matthew Smith purchased 25,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the executive vice president now directly owns 1,440,683 shares in the company, valued at $5,834,766.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other New York Community Bancorp news, Director Peter Schoels acquired 100,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.15 per share, with a total value of $415,000.00. Following the transaction, the director now owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Matthew Smith purchased 25,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the executive vice president now owns 1,440,683 shares of the company’s stock, valued at $5,834,766.15. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 213,410 shares of company stock valued at $875,626. Company insiders own 1.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. DA Davidson cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.50 to $5.00 in a research note on Thursday, February 8th. 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. Deutsche Bank Aktiengesellschaft downgraded New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $7.00 in a research report on Friday, February 2nd. Finally, Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.39.

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.