Zacks: Brokerages Expect New York Community Bancorp, Inc. (NYSE:NYCB) to Announce $0.30 EPS

Wall Street analysts expect that New York Community Bancorp, Inc. (NYSE:NYCB) will post earnings of $0.30 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for New York Community Bancorp’s earnings, with estimates ranging from $0.28 to $0.31. New York Community Bancorp reported earnings per share of $0.21 during the same quarter last year, which suggests a positive year over year growth rate of 42.9%. The firm is expected to report its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that New York Community Bancorp will report full-year earnings of $1.21 per share for the current year, with EPS estimates ranging from $1.15 to $1.27. For the next financial year, analysts forecast that the firm will post earnings of $1.22 per share, with EPS estimates ranging from $0.27 to $1.52. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Sunday, April 25th. The financial services provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. New York Community Bancorp had a return on equity of 8.00% and a net margin of 31.82%. The firm had revenue of $332.07 million during the quarter, compared to the consensus estimate of $323.81 million. During the same quarter in the prior year, the firm posted $0.20 EPS.

A number of brokerages have recently issued reports on NYCB. Zacks Investment Research cut New York Community Bancorp from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a research note on Monday, May 31st. B. Riley upped their price objective on New York Community Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, March 29th. Jefferies Financial Group upped their price objective on New York Community Bancorp from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, April 9th. Credit Suisse Group upped their price objective on New York Community Bancorp from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on New York Community Bancorp from $11.50 to $15.00 and gave the stock a “hold” rating in a research note on Monday, May 3rd. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.83.

NYSE:NYCB traded up $0.15 during trading hours on Thursday, reaching $11.22. 3,204,035 shares of the stock were exchanged, compared to its average volume of 5,137,666. New York Community Bancorp has a twelve month low of $7.72 and a twelve month high of $13.23. The stock has a market capitalization of $5.22 billion, a PE ratio of 9.92, a PEG ratio of 0.97 and a beta of 1.06. The company has a current ratio of 1.34, a quick ratio of 1.33 and a debt-to-equity ratio of 2.50. The company’s 50 day simple moving average is $11.88.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 18th. Shareholders of record on Friday, May 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend was Thursday, May 6th. New York Community Bancorp’s dividend payout ratio is 78.16%.

In other news, Director Lawrence J. Savarese acquired 3,700 shares of the firm’s stock in a transaction on Monday, June 14th. The shares were purchased at an average cost of $11.71 per share, with a total value of $43,327.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NYCB. Dimensional Fund Advisors LP grew its holdings in shares of New York Community Bancorp by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,783,836 shares of the financial services provider’s stock worth $186,573,000 after purchasing an additional 1,537,443 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of New York Community Bancorp by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 7,194,367 shares of the financial services provider’s stock worth $75,902,000 after purchasing an additional 497,324 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of New York Community Bancorp by 5.5% during the 1st quarter. Geode Capital Management LLC now owns 6,699,100 shares of the financial services provider’s stock worth $84,542,000 after purchasing an additional 348,646 shares in the last quarter. Norges Bank acquired a new stake in shares of New York Community Bancorp during the 4th quarter worth $56,061,000. Finally, Kahn Brothers Group Inc. DE grew its holdings in shares of New York Community Bancorp by 4.3% during the 1st quarter. Kahn Brothers Group Inc. DE now owns 4,498,318 shares of the financial services provider’s stock worth $56,769,000 after purchasing an additional 184,448 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

About New York Community Bancorp

New York Community Bancorp, Inc operates as the 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 accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

Further Reading: How to Use the MarketBeat Retirement Calculator

Get a free copy of the Zacks research report on New York Community Bancorp (NYCB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for New York Community Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Community Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.