New York Community Bancorp (NYSE:NYCB) Issues Earnings Results, Misses Expectations By $0.63 EPS

New York Community Bancorp (NYSE:NYCB) announced its quarterly earnings data on Thursday. The financial services provider reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.63), RTT News reports. The firm had revenue of $671.00 million during the quarter, compared to analyst estimates of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. New York Community Bancorp’s revenue for the quarter was down 44.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS.

New York Community Bancorp Trading Up 5.7 %

Shares of NYCB opened at $11.22 on Friday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.26. The firm has a 50 day simple moving average of $4.95 and a 200-day simple moving average of $4.84. New York Community Bancorp has a 1-year low of $5.10 and a 1-year high of $42.66. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 374.00 and a beta of 0.99.

New York Community Bancorp’s stock is scheduled to reverse split before the market opens on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 30th.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, June 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%. New York Community Bancorp’s dividend payout ratio (DPR) is 400.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of New York Community Bancorp from $3.75 to $11.25 and gave the company a “market perform” rating in a research report on Monday, July 15th. Wedbush restated a “neutral” rating and issued a $10.50 price objective on shares of New York Community Bancorp in a research report on Friday. StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Piper Sandler upgraded shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target for the company in a research report on Wednesday, May 1st. Finally, Barclays reduced their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.88.

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.