New York Community Bancorp, Inc. (NYCB) Expected to Announce Quarterly Sales of $270.84 Million

Equities research analysts expect New York Community Bancorp, Inc. (NYSE:NYCB) to report sales of $270.84 million for the current quarter, Zacks reports. Six analysts have made estimates for New York Community Bancorp’s earnings. The lowest sales estimate is $267.10 million and the highest is $279.80 million. New York Community Bancorp reported sales of $296.32 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.6%. The business is expected to issue its next earnings results on Wednesday, January 30th.

According to Zacks, analysts expect that New York Community Bancorp will report full-year sales of $1.12 billion for the current year, with estimates ranging from $1.12 billion to $1.13 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.07 billion, with estimates ranging from $1.04 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.20 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. New York Community Bancorp had a return on equity of 6.60% and a net margin of 26.41%. The firm had revenue of $272.43 million for the quarter, compared to the consensus estimate of $285.05 million. During the same period in the previous year, the business earned $0.21 EPS.

Several analysts have weighed in on the company. Credit Suisse Group reiterated a “neutral” rating and set a $12.00 price target on shares of New York Community Bancorp in a research note on Tuesday, August 28th. ValuEngine upgraded New York Community Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. B. Riley set a $11.00 price target on New York Community Bancorp and gave the company a “hold” rating in a research note on Monday, October 15th. Zacks Investment Research reiterated a “sell” rating on shares of New York Community Bancorp in a research note on Wednesday, November 14th. Finally, Piper Jaffray Companies upgraded New York Community Bancorp from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $9.00 in a research note on Friday, October 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. New York Community Bancorp currently has a consensus rating of “Hold” and an average price target of $12.32.

Institutional investors have recently bought and sold shares of the business. Atria Investments LLC purchased a new stake in shares of New York Community Bancorp in the third quarter worth about $105,000. Truvestments Capital LLC purchased a new stake in shares of New York Community Bancorp in the second quarter worth about $114,000. Sanders Morris Harris LLC purchased a new stake in shares of New York Community Bancorp in the third quarter worth about $114,000. Lido Advisors LLC purchased a new stake in shares of New York Community Bancorp in the third quarter worth about $114,000. Finally, Glenmede Trust Co. NA purchased a new stake in shares of New York Community Bancorp in the third quarter worth about $114,000. Institutional investors and hedge funds own 67.83% of the company’s stock.

Shares of NYCB stock opened at $10.05 on Wednesday. New York Community Bancorp has a 1-year low of $8.88 and a 1-year high of $14.53. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 2.20. The firm has a market cap of $5.05 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, November 5th. This represents a $0.68 annualized dividend and a yield of 6.77%. New York Community Bancorp’s payout ratio is presently 83.95%.

New York Community Bancorp 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 Bancorp (NYSE:NYCB)

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