New York Community Bancorp (NYSE:NYCB) Releases Earnings Results, Misses Expectations By $0.29 EPS

New York Community Bancorp (NYSE:NYCB) announced its quarterly earnings results on Friday. The financial services provider reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29), RTT News reports. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $621.72 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. During the same quarter in the prior year, the business earned $1.08 earnings per share.

New York Community Bancorp Stock Performance

NYSE NYCB traded down $0.95 on Friday, hitting $10.55. 18,531,372 shares of the stock were exchanged, compared to its average volume of 8,349,230. The business’s fifty day moving average is $11.11 and its 200 day moving average is $12.17. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.47. The company has a market capitalization of $4.38 billion, a PE ratio of -3.83 and a beta of 1.00. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17.

New York Community Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Saturday, December 7th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. New York Community Bancorp’s dividend payout ratio (DPR) is -1.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NYCB shares. Barclays upgraded shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $10.00 to $14.00 in a report on Thursday, September 26th. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup lifted their price objective on New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. Finally, Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.48.

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.