New York Community Bancorp (NYSE:NYCB) Issues Quarterly Earnings Results, Misses Expectations By $0.29 EPS

New York Community Bancorp (NYSE:NYCB) announced its earnings results on Friday. The financial services provider reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29), RTT News reports. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $621.72 million. During the same period in the previous year, the company posted $1.08 earnings per share.

New York Community Bancorp Stock Performance

Shares of NYCB stock opened at $10.55 on Monday. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of -3.82 and a beta of 1.00. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.47. The company has a 50-day simple moving average of $11.11 and a 200 day simple moving average of $12.19.

New York Community Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Saturday, December 7th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. New York Community Bancorp’s dividend payout ratio is presently -1.45%.

Wall Street Analyst Weigh In

NYCB has been the subject of several recent research reports. Raymond James raised New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Citigroup raised their price target on shares of New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. 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. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $10.00 to $14.00 in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their price target 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, October 9th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.48.

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.