$326.36 Million in Sales Expected for New York Community Bancorp, Inc. (NYSE:NYCB) This Quarter

Wall Street analysts forecast that New York Community Bancorp, Inc. (NYSE:NYCB) will report $326.36 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for New York Community Bancorp’s earnings, with the highest sales estimate coming in at $330.06 million and the lowest estimate coming in at $321.10 million. New York Community Bancorp reported sales of $362.94 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10.1%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, July 26th.

On average, analysts expect that New York Community Bancorp will report full year sales of $326.36 million for the current fiscal year, with estimates ranging from $1.30 billion to $1.38 billion. For the next year, analysts forecast that the business will post sales of $1.36 billion per share, with estimates ranging from $1.28 billion to $1.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.02. New York Community Bancorp had a return on equity of 7.72% and a net margin of 26.19%. The firm had revenue of $327.09 million during the quarter, compared to analysts’ expectations of $342.04 million. During the same quarter in the previous year, the company posted $0.27 earnings per share.

A number of brokerages have recently weighed in on NYCB. BidaskClub upgraded New York Community Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Stephens assumed coverage on New York Community Bancorp in a research report on Wednesday, April 5th. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods set a $15.00 price target on New York Community Bancorp and gave the stock a “hold” rating in a research report on Tuesday, April 4th. FBR & Co dropped their price target on New York Community Bancorp from $14.00 to $13.00 and set an “underperform” rating for the company in a research report on Friday, April 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $13.75 price target (down previously from $14.00) on shares of New York Community Bancorp in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. New York Community Bancorp currently has a consensus rating of “Hold” and a consensus target price of $14.46.

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Several large investors have recently made changes to their positions in NYCB. Pacer Advisors Inc. raised its stake in shares of New York Community Bancorp by 3.1% in the first quarter. Pacer Advisors Inc. now owns 9,389 shares of the financial services provider’s stock worth $131,000 after buying an additional 284 shares during the period. Quantbot Technologies LP bought a new stake in shares of New York Community Bancorp during the first quarter worth $140,000. National Asset Management Inc. bought a new stake in shares of New York Community Bancorp during the first quarter worth $161,000. HRT Financial LLC bought a new stake in shares of New York Community Bancorp during the first quarter worth $172,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of New York Community Bancorp by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 12,989 shares of the financial services provider’s stock worth $170,000 after buying an additional 506 shares during the period. 57.16% of the stock is currently owned by hedge funds and other institutional investors.

New York Community Bancorp (NYSE:NYCB) traded down 0.69% during trading on Friday, hitting $12.98. The stock had a trading volume of 654,266 shares. The firm has a market cap of $6.35 billion, a P/E ratio of 13.66 and a beta of 0.59. New York Community Bancorp has a 52-week low of $12.61 and a 52-week high of $17.68. The company has a 50-day moving average of $13.07 and a 200 day moving average of $14.37.

New York Community Bancorp Company Profile

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

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