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

New York Community Bancorp (NYSE:NYCB) released its quarterly earnings results on Wednesday. The financial services provider reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01, Briefing.com reports. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.78%. The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company’s revenue for the quarter was down 76.1% on a year-over-year basis.

New York Community Bancorp Trading Up 4.7 %

NYSE NYCB traded up $0.16 during trading hours on Friday, reaching $3.53. The company had a trading volume of 26,530,055 shares, compared to its average volume of 20,609,100. New York Community Bancorp has a 1-year low of $1.70 and a 1-year high of $14.22. The stock has a market capitalization of $2.82 billion, a P/E ratio of 353.00 and a beta of 0.95. The stock has a 50-day moving average of $3.36 and a 200 day moving average of $7.02. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 annualized dividend and a yield of 1.13%. New York Community Bancorp’s dividend payout ratio (DPR) is currently 2,000.00%.

Insider Buying and Selling at New York Community Bancorp

In other news, Chairman Alessandro Dinello bought 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the transaction, the chairman now directly owns 114,305 shares in the company, valued at $478,937.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other New York Community Bancorp news, Director Peter Schoels purchased 100,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $4.15 per share, with a total value of $415,000.00. Following the completion of the transaction, the director now owns 147,438 shares of the company’s stock, valued at $611,867.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alessandro Dinello acquired 50,000 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.19 per share, with a total value of $209,500.00. Following the purchase, the chairman now owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The disclosure for this purchase can be found here. Insiders purchased a total of 213,410 shares of company stock worth $875,626 over the last three months. Insiders own 1.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NYCB shares. Morgan Stanley dropped their price target on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Compass Point lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $8.00 in a report on Thursday, February 1st. DA Davidson downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.50 to $5.00 in a research note on Thursday, February 8th. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Finally, Citigroup decreased their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, New York Community Bancorp has an average rating of “Hold” and an average 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.