Research Analysts Offer Predictions for New York Community Bancorp, Inc.’s Q3 2024 Earnings (NYSE:NYCB)

New York Community Bancorp, Inc. (NYSE:NYCB) – Wedbush cut their Q3 2024 EPS estimates for shares of New York Community Bancorp in a report released on Wednesday, October 9th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of ($0.30) for the quarter, down from their previous forecast of ($0.27). Wedbush has a “Neutral” rating and a $31.50 price target on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is ($2.42) per share. Wedbush also issued estimates for New York Community Bancorp’s Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($2.20) EPS, Q1 2025 earnings at ($0.10) EPS and Q2 2025 earnings at ($0.03) EPS.

NYCB has been the subject of a number of other reports. Citigroup lifted their price target on New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their target price on shares of New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Price Performance

New York Community Bancorp stock opened at $11.78 on Friday. The business’s fifty day moving average is $10.69 and its two-hundred day moving average is $12.01. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. The firm has a market cap of $4.89 billion, a P/E ratio of -4.27 and a beta of 1.00. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.47.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing the consensus estimate of ($1.26) by ($1.89). New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The business had revenue of $671.00 million during the quarter, compared to analyst estimates of $722.47 million. During the same period in the previous year, the firm earned $4.23 earnings per share. The firm’s revenue was down 44.2% compared to the same quarter last year.

Hedge Funds Weigh In On New York Community Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in NYCB. Caas Capital Management LP bought a new position in shares of New York Community Bancorp during the 4th quarter valued at about $147,000. BHZ Capital Management LP increased its position in shares of New York Community Bancorp by 62.8% during the fourth quarter. BHZ Capital Management LP now owns 362,989 shares of the financial services provider’s stock worth $3,713,000 after acquiring an additional 140,039 shares in the last quarter. Greenlight Capital Inc. raised its holdings in shares of New York Community Bancorp by 6.0% during the fourth quarter. Greenlight Capital Inc. now owns 1,828,730 shares of the financial services provider’s stock worth $18,708,000 after acquiring an additional 104,320 shares during the period. Quarry LP lifted its position in New York Community Bancorp by 585.5% in the 4th quarter. Quarry LP now owns 4,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 3,443 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. acquired a new position in New York Community Bancorp in the 4th quarter worth $559,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

New York Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Saturday, September 7th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s payout ratio is -1.45%.

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.