Equities analysts expect that New York Community Bancorp, Inc. (NYSE:NYCB) will announce sales of $323.73 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for New York Community Bancorp’s earnings. The lowest sales estimate is $316.80 million and the highest is $326.90 million. New York Community Bancorp reported sales of $261.37 million in the same quarter last year, which indicates a positive year over year growth rate of 23.9%. The business is scheduled to issue its next earnings report before the market opens on Wednesday, April 28th.
According to Zacks, analysts expect that New York Community Bancorp will report full year sales of $1.34 billion for the current fiscal year, with estimates ranging from $1.30 billion to $1.37 billion. For the next financial year, analysts expect that the firm will post sales of $1.42 billion, with estimates ranging from $1.36 billion to $1.49 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for New York Community Bancorp.
New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Tuesday, January 26th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. The firm had revenue of $322.95 million for the quarter, compared to analysts’ expectations of $313.05 million. New York Community Bancorp had a return on equity of 6.69% and a net margin of 23.07%. During the same quarter in the prior year, the firm earned $0.20 EPS.
A number of analysts recently issued reports on NYCB shares. B. Riley increased their price objective on New York Community Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, March 29th. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $11.00 in a report on Friday, February 5th. TheStreet raised New York Community Bancorp from a “c+” rating to a “b” rating in a report on Tuesday, December 15th. Morgan Stanley raised their price target on New York Community Bancorp from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, March 24th. Finally, Compass Point raised New York Community Bancorp from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, January 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $12.04.
In other news, Director Ronald A. Rosenfeld acquired 5,000 shares of New York Community Bancorp stock in a transaction dated Tuesday, February 9th. The shares were purchased at an average cost of $10.63 per share, for a total transaction of $53,150.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.31% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in New York Community Bancorp by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,246,393 shares of the financial services provider’s stock worth $139,748,000 after acquiring an additional 266,956 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in New York Community Bancorp by 7.4% in 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 buying an additional 497,324 shares during the period. Norges Bank purchased a new stake in New York Community Bancorp in the 4th quarter worth approximately $56,061,000. Charles Schwab Investment Management Inc. lifted its holdings in New York Community Bancorp by 15.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,685,087 shares of the financial services provider’s stock worth $28,328,000 after buying an additional 357,511 shares during the period. Finally, Wedge Capital Management L L P NC lifted its holdings in New York Community Bancorp by 3.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,342,607 shares of the financial services provider’s stock worth $24,715,000 after buying an additional 70,010 shares during the period. Institutional investors and hedge funds own 50.77% of the company’s stock.
Shares of NYCB opened at $12.54 on Thursday. The stock’s 50-day simple moving average is $12.25 and its 200 day simple moving average is $10.29. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.39 and a current ratio of 1.39. New York Community Bancorp has a 52-week low of $7.72 and a 52-week high of $13.23.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 16th. Stockholders of record on Saturday, February 6th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 4th. This represents a $0.68 annualized dividend and a dividend yield of 5.42%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 88.31%.
About New York Community Bancorp
New York Community Bancorp, Inc operates as a 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 offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.
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