New York Community Bancorp (NYSE:NYCB) Posts Earnings Results, Misses Estimates By $0.63 EPS

New York Community Bancorp (NYSE:NYCB) announced its earnings results on Thursday. The financial services provider reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.63), RTT News reports. The firm had revenue of $671.00 million for the quarter, compared to the consensus estimate of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. New York Community Bancorp’s revenue for the quarter was down 44.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS.

New York Community Bancorp Stock Up 5.7 %

New York Community Bancorp stock opened at $11.22 on Friday. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $42.66. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.26 and a current ratio of 1.27. The firm has a market cap of $3.07 billion, a PE ratio of 374.00 and a beta of 0.99. The firm’s 50 day moving average price is $4.95 and its two-hundred day moving average price is $4.88.

New York Community Bancorp shares are going to reverse split on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 30th.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, June 7th. New York Community Bancorp’s dividend payout ratio is currently 400.00%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup boosted their price objective on New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target for the company in a report on Wednesday, May 1st. Wedbush reaffirmed a “neutral” rating and issued a $10.50 price objective on shares of New York Community Bancorp in a research note on Friday. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of New York Community Bancorp from $3.75 to $11.25 and gave the stock a “market perform” rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.88.

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.