Zacks: Analysts expect New York Community Bancorp, Inc. (NYSE:NYCB) to post quarterly sales of $355.07 million


Analysts expect New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) to report $355.07 million in sales for the current quarter, according to Zacks Investment Research. Five analysts provided earnings estimates for New York Community Bancorp, with the highest sales estimate at $361.54 million and the lowest estimate at $345.20 million. New York Community Bancorp reported sales of $347.00 million in the same quarter last year, indicating a positive year-over-year growth rate of 2.3%. The company is due to announce its next earnings report on Monday, January 1.

On average, analysts expect New York Community Bancorp to report annual sales of $1.43 billion for the current fiscal year, with estimates ranging from $1.41 billion to $1.46 billion. For next year, analysts expect the company to post sales of $1.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB – Get Rating) last released quarterly earnings data on Wednesday, April 27. The financial services provider reported earnings per share (EPS) of $0.32 for the quarter, beating analysts’ consensus estimate of $0.31 by $0.01. The company posted revenue of $346.00 million for the quarter, versus a consensus estimate of $347.81 million. New York Community Bancorp had a net margin of 34.51% and a return on equity of 9.80%. The company’s revenue for the quarter increased by 4.2% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.29.

A number of stock analysts have weighed in on NYCB shares recently. StockNews.com began covering New York Community Bancorp shares in a report on Thursday, March 31. They issued a “holding” rating on the stock. TheStreet downgraded shares of New York Community Bancorp from a “b” rating to a “c+” rating in a Thursday, May 5 report. B. Riley cut his price target on New York Community Bancorp stock from $19.00 to $16.00 in a Tuesday, April 12 report. Finally, Stephens downgraded shares of New York Community Bancorp from a “weighted” rating to an “underweight” rating and reduced his price target for the stock from $12.00 to $9.00 in a report for Tuesday 3 May. One analyst rated the stock with a sell rating and three gave the company a hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.62.

Institutional investors have recently changed their positions in the stock. FMR LLC increased its position in New York Community Bancorp shares by 40.1% during the first quarter. FMR LLC now owns 31,397 shares of the financial services provider valued at $363,000 after purchasing an additional 8,981 shares during the period. US Bancorp DE increased its position in New York Community Bancorp shares by 37.2% during the third quarter. US Bancorp DE now owns 57,099 shares of the financial services provider valued at $735,000 after purchasing an additional 15,475 shares during the period. American Century Companies Inc. increased its position in New York Community Bancorp shares by 47.6% during the third quarter. American Century Companies Inc. now owns 100,799 shares of the financial services provider valued at $1,297,000 after purchasing an additional 32,526 shares during the period. Mercer Global Advisors Inc. ADV increased its position in New York Community Bancorp shares by 25.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 123,555 shares of the financial services provider valued at $1,590,000 after purchasing an additional 25,050 shares during the period. Finally, CI Investments Inc. increased its position in New York Community Bancorp shares by 9.0% during the third quarter. CI Investments Inc. now owns 19,810 shares of the financial services provider valued at $255,000 after purchasing an additional 1,634 shares during the period. Institutional investors and hedge funds hold 61.01% of the company’s shares.

NYCB opened at $9.70 on Wednesday. The company’s fifty-day moving average price is $10.06 and its two-hundred-day moving average price is $11.35. The company has a debt ratio of 2.39, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $4.53 billion, a price/earnings ratio of 8.02, a P/E/G ratio of 0.73 and a beta of 0.96. New York Community Bancorp has a 1-year minimum of $8.73 and a 1-year maximum of $14.33.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 19. Investors of record on Monday, May 9 received a dividend of $0.17. This represents a dividend of $0.68 on an annualized basis and a yield of 7.01%. The ex-dividend date was Friday, May 6. New York Community Bancorp’s dividend payout ratio is currently 56.20%.

About New York Community Bancorp (Get a rating)

New York Community Bancorp, Inc operates as a banking holding company for New York Community Bank which provides banking products and services in the New York metropolitan area, New Jersey, Ohio, Florida and Arizona. The Company accepts various deposit products, such as interest-bearing checks and money market accounts, savings accounts, non-interest-bearing accounts and individual retirement accounts, as well as certificates of deposit.

See also

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Earnings history and estimates for New York Community Bancorp (NYSE:NYCB)



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About Jefferey G. Cannon

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