New York Community Bancorp (NYSE:NYCB) Posts Quarterly Earnings Results, Misses Estimates By $0.67 EPS

New York Community Bancorp (NYSE:NYCB) released its earnings results on Thursday. The financial services provider reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.67), RTT News reports. The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The company’s revenue for the quarter was down 44.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 EPS.

New York Community Bancorp Stock Performance

Shares of NYCB traded up $0.61 during trading hours on Friday, hitting $11.22. The stock had a trading volume of 7,300,834 shares, compared to its average volume of 9,278,175. The firm has a market capitalization of $3.07 billion, a PE ratio of 367.33 and a beta of 0.99. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 1.26. New York Community Bancorp has a 12 month low of $5.10 and a 12 month high of $42.66. The stock has a fifty day moving average price of $4.80 and a 200 day moving average price of $4.88.

Shares of New York Community Bancorp are going to reverse split before the market opens 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 company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. New York Community Bancorp’s payout ratio is 400.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on NYCB shares. Barclays dropped their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Wedbush reaffirmed a “neutral” rating and set a $10.50 target price on shares of New York Community Bancorp in a research note on Friday. Piper Sandler upgraded shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price for the company in a report on Wednesday, May 1st. Citigroup raised their price objective on New York Community Bancorp from $3.50 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.88.

About New York Community Bancorp

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.