$288.71 Million in Sales Expected for New York Community Bank (NYCB) This Quarter

Equities research analysts expect that New York Community Bank (NYSE:NYCB) will announce $288.71 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for New York Community Bank’s earnings, with the lowest sales estimate coming in at $283.20 million and the highest estimate coming in at $294.22 million. New York Community Bank reported sales of $338.21 million during the same quarter last year, which would suggest a negative year over year growth rate of 14.6%. The firm is expected to announce its next earnings results on Wednesday, July 25th.

According to Zacks, analysts expect that New York Community Bank will report full-year sales of $1.16 billion for the current financial year, with estimates ranging from $1.15 billion to $1.18 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.18 billion per share, with estimates ranging from $1.12 billion to $1.20 billion. Zacks’ sales averages are an average based on a survey of research firms that cover New York Community Bank.

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

A number of brokerages have weighed in on NYCB. Barclays decreased their target price on New York Community Bank from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, April 26th. Zacks Investment Research lowered New York Community Bank from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 1st. Royal Bank of Canada reissued a “hold” rating and issued a $12.00 target price on shares of New York Community Bank in a research report on Thursday, April 26th. Wedbush decreased their target price on New York Community Bank from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, April 26th. Finally, ValuEngine lowered New York Community Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $13.05.

New York Community Bank traded down $0.04, reaching $12.03, during mid-day trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 3,906,425 shares, compared to its average volume of 5,355,689. New York Community Bank has a 12-month low of $11.48 and a 12-month high of $14.53. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Tuesday, May 8th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, May 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.65%. New York Community Bank’s dividend payout ratio (DPR) is presently 83.95%.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of New York Community Bank by 14.8% during the 1st quarter. BlackRock Inc. now owns 56,419,781 shares of the financial services provider’s stock valued at $735,149,000 after acquiring an additional 7,287,646 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of New York Community Bank by 11.2% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 30,036,275 shares of the financial services provider’s stock valued at $391,372,000 after acquiring an additional 3,028,210 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of New York Community Bank by 14.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,151,204 shares of the financial services provider’s stock valued at $106,210,000 after acquiring an additional 1,008,595 shares during the period. Bank of New York Mellon Corp grew its stake in shares of New York Community Bank by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 6,845,149 shares of the financial services provider’s stock valued at $89,126,000 after acquiring an additional 348,451 shares during the period. Finally, Mondrian Investment Partners LTD grew its stake in shares of New York Community Bank by 51.4% during the 1st quarter. Mondrian Investment Partners LTD now owns 5,464,221 shares of the financial services provider’s stock valued at $64,915,000 after acquiring an additional 1,854,060 shares during the period. Institutional investors own 61.75% of the company’s stock.

New York Community Bank Company Profile

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 Bank (NYSE:NYCB)

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