New York Community Bancorp (NYSE:NYCB) Releases Earnings Results, Beats Expectations By $0.01 EPS

New York Community Bancorp (NYSE:NYCB) released its earnings results on Wednesday. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01, Briefing.com reports. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The company had revenue of $633.00 million during the quarter, compared to analyst estimates of $776.81 million. During the same quarter in the previous year, the company posted $0.23 EPS. New York Community Bancorp’s revenue for the quarter was down 76.1% on a year-over-year basis.

New York Community Bancorp Stock Down 0.9 %

NYCB traded down $0.03 during trading on Thursday, hitting $3.37. 23,100,492 shares of the company’s stock traded hands, compared to its average volume of 34,451,418. The company’s 50 day simple moving average is $3.40 and its two-hundred day simple moving average is $7.10. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. New York Community Bancorp has a 12-month low of $1.70 and a 12-month high of $14.22. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 0.98 and a beta of 0.95.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, June 7th. This represents a $0.04 annualized dividend and a yield of 1.19%. New York Community Bancorp’s dividend payout ratio is 6.01%.

Insider Buying and Selling at New York Community Bancorp

In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Thomas R. Cangemi purchased 11,310 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $4.41 per share, with a total value of $49,877.10. Following the acquisition, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marshall Lux bought 27,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the acquisition, the director now owns 64,872 shares in the company, valued at approximately $239,377.68. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 213,410 shares of company stock worth $875,626. Insiders own 1.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NYCB shares. Jefferies Financial Group lowered New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their target price for the company from $13.00 to $7.00 in a research note on Thursday, February 1st. UBS Group lowered New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft lowered New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $7.00 in a research report on Friday, February 2nd. Royal Bank of Canada lowered their price target on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. Finally, Raymond James lowered New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target for the company. in a research report on Monday, March 18th. Two investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.39.

New York Community Bancorp Company Profile

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.