FY2019 Earnings Estimate for New York Community Bancorp, Inc. Issued By B. Riley (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Equities research analysts at B. Riley dropped their FY2019 earnings per share estimates for shares of New York Community Bancorp in a research note issued on Wednesday, July 31st. B. Riley analyst S. Moss now anticipates that the financial services provider will earn $0.82 per share for the year, down from their previous forecast of $0.83. B. Riley currently has a “Buy” rating and a $13.00 price target on the stock. B. Riley also issued estimates for New York Community Bancorp’s Q3 2020 earnings at $0.26 EPS, Q4 2020 earnings at $0.27 EPS and FY2020 earnings at $1.00 EPS.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised New York Community Bancorp from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $9.50 to $11.50 in a research report on Thursday, August 1st. Royal Bank of Canada started coverage on New York Community Bancorp in a research report on Friday, July 12th. They issued an “outperform” rating and a $12.00 target price for the company. TheStreet cut New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, June 13th. Sandler O’Neill cut New York Community Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Bank of America set a $13.00 target price on New York Community Bancorp and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. New York Community Bancorp presently has an average rating of “Hold” and a consensus target price of $12.20.

Shares of NYCB stock opened at $11.53 on Monday. The company has a market capitalization of $5.33 billion, a PE ratio of 14.59, a P/E/G ratio of 1.49 and a beta of 1.00. New York Community Bancorp has a one year low of $8.61 and a one year high of $12.72. The business has a fifty day moving average price of $10.44. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.31 and a current ratio of 1.30.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $255.29 million during the quarter, compared to analysts’ expectations of $255.49 million. New York Community Bancorp had a return on equity of 6.52% and a net margin of 21.73%. During the same period last year, the business earned $0.20 earnings per share.

Several hedge funds and other institutional investors have recently modified their holdings of NYCB. Ausdal Financial Partners Inc. grew its position in shares of New York Community Bancorp by 38.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 50,850 shares of the financial services provider’s stock worth $570,000 after buying an additional 14,200 shares during the period. National Asset Management Inc. grew its position in shares of New York Community Bancorp by 44.3% during the 2nd quarter. National Asset Management Inc. now owns 24,352 shares of the financial services provider’s stock worth $244,000 after buying an additional 7,477 shares during the period. Kahn Brothers Group Inc. DE grew its position in shares of New York Community Bancorp by 27.5% during the 2nd quarter. Kahn Brothers Group Inc. DE now owns 5,467,791 shares of the financial services provider’s stock worth $54,569,000 after buying an additional 1,180,860 shares during the period. Pinnacle Associates Ltd. grew its position in shares of New York Community Bancorp by 46.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 47,019 shares of the financial services provider’s stock worth $469,000 after buying an additional 14,894 shares during the period. Finally, General American Investors Co. Inc. grew its position in shares of New York Community Bancorp by 15.0% during the 2nd quarter. General American Investors Co. Inc. now owns 1,150,000 shares of the financial services provider’s stock worth $11,477,000 after buying an additional 150,000 shares during the period. 62.89% of the stock is owned by institutional investors.

In related news, Director Hanif Dahya acquired 1,640 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was bought at an average cost of $26.31 per share, with a total value of $43,148.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.31% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.90%. New York Community Bancorp’s payout ratio is presently 86.08%.

About New York Community Bancorp

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

Further Reading: Rule of 72

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

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