$288.71 Million in Sales Expected for New York Community Bancorp, Inc. (NYCB) This Quarter

Wall Street brokerages expect New York Community Bancorp, Inc. (NYSE:NYCB) to announce $288.71 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for New York Community Bancorp’s earnings, with estimates ranging from $283.20 million to $294.22 million. New York Community Bancorp posted sales of $338.21 million during the same quarter last year, which suggests a negative year-over-year growth rate of 14.6%. The business is scheduled to report its next earnings results on Wednesday, July 25th.

On average, analysts expect that New York Community Bancorp will report full year sales of $1.16 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.18 billion. For the next financial year, analysts anticipate that the company will post sales of $1.18 billion per share, with estimates ranging from $1.12 billion to $1.20 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.20. The firm had revenue of $293.16 million during the quarter, compared to analysts’ expectations of $295.51 million. New York Community Bancorp had a net margin of 26.12% and a return on equity of 6.81%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS.



A number of equities analysts recently weighed in on NYCB shares. UBS Group started coverage on shares of New York Community Bancorp in a research report on Wednesday, March 21st. They set a “sell” rating and a $12.00 price objective for the company. Zacks Investment Research raised shares of New York Community Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, February 22nd. Wedbush lowered their price objective on shares of New York Community Bancorp from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, April 26th. Barclays lowered their price objective on shares of New York Community Bancorp from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, April 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $12.00 price objective on shares of New York Community Bancorp in a research report on Thursday, April 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. New York Community Bancorp currently has an average rating of “Hold” and a consensus price target of $12.95.

A number of hedge funds have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan boosted its position in New York Community Bancorp by 3.0% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 152,310 shares of the financial services provider’s stock valued at $1,985,000 after buying an additional 4,400 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of New York Community Bancorp by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 76,071 shares of the financial services provider’s stock valued at $991,000 after purchasing an additional 4,500 shares in the last quarter. WBI Investments Inc. raised its holdings in shares of New York Community Bancorp by 7.5% in the 1st quarter. WBI Investments Inc. now owns 64,459 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 4,521 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of New York Community Bancorp by 16.1% in the 1st quarter. Toronto Dominion Bank now owns 33,478 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 4,654 shares in the last quarter. Finally, Tredje AP fonden raised its holdings in shares of New York Community Bancorp by 5.2% in the 1st quarter. Tredje AP fonden now owns 102,130 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 5,050 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

New York Community Bancorp opened at $11.61 on Wednesday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $5.64 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.41 and a beta of 0.67. New York Community Bancorp has a fifty-two week low of $11.35 and a fifty-two week high of $14.53.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 22nd. Shareholders of record on Tuesday, May 8th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, May 7th. This represents a $0.68 annualized dividend and a yield of 5.86%. New York Community Bancorp’s dividend payout ratio is presently 83.95%.

About New York Community Bancorp

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

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

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