New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) – Stock analysts at Wedbush lowered their Q1 2023 earnings estimates for shares of New York Community Bancorp in a report issued on Monday, March 20th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.26. Wedbush currently has a “Outperform” rating on the stock. The consensus estimate for New York Community Bancorp’s current full-year earnings is $1.13 per share. Wedbush also issued estimates for New York Community Bancorp’s Q2 2023 earnings at $0.32 EPS, Q3 2023 earnings at $0.33 EPS, Q4 2023 earnings at $0.32 EPS and Q2 2024 earnings at $0.34 EPS.
Several other equities research analysts have also recently weighed in on the stock. Stephens upgraded shares of New York Community Bancorp from an “underweight” rating to an “equal weight” rating and set a $8.50 price objective for the company in a research report on Friday, December 9th. Piper Sandler lowered their price target on shares of New York Community Bancorp from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, December 5th. Credit Suisse Group lifted their price target on shares of New York Community Bancorp from $8.50 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 1st. TheStreet cut shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, March 13th. Finally, DA Davidson began coverage on shares of New York Community Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $10.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.95.
New York Community Bancorp Trading Up 31.7 %
New York Community Bancorp (NYSE:NYCB – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $577.00 million during the quarter, compared to analyst estimates of $410.71 million. New York Community Bancorp had a net margin of 27.79% and a return on equity of 9.32%.
New York Community Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 6th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend was Friday, February 3rd. New York Community Bancorp’s payout ratio is 54.40%.
Insider Buying and Selling
In related news, EVP Reginald E. Davis sold 4,600 shares of New York Community Bancorp stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $9.97, for a total transaction of $45,862.00. Following the transaction, the executive vice president now owns 123,033 shares of the company’s stock, valued at approximately $1,226,639.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ronald A. Rosenfeld purchased 30,800 shares of the business’s stock in a transaction on Monday, February 6th. The shares were purchased at an average price of $24.57 per share, with a total value of $756,756.00. Following the completion of the purchase, the director now owns 30,800 shares in the company, valued at approximately $756,756. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Reginald E. Davis sold 4,600 shares of New York Community Bancorp stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $9.97, for a total transaction of $45,862.00. Following the completion of the transaction, the executive vice president now directly owns 123,033 shares in the company, valued at approximately $1,226,639.01. The disclosure for this sale can be found here. 1.58% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. acquired a new stake in shares of New York Community Bancorp in the third quarter valued at approximately $25,000. TFC Financial Management acquired a new stake in shares of New York Community Bancorp in the third quarter valued at approximately $26,000. Point72 Hong Kong Ltd acquired a new stake in shares of New York Community Bancorp in the second quarter valued at approximately $27,000. Quadrant Capital Group LLC raised its holdings in shares of New York Community Bancorp by 181.0% in the third quarter. Quadrant Capital Group LLC now owns 3,347 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 2,156 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of New York Community Bancorp in the fourth quarter valued at approximately $29,000. Institutional investors own 63.17% of the company’s stock.
About New York Community Bancorp
New York Community Bancorp, Inc is a bank holding company, which engages in the provision of multi-family loans on non-luxury rent-regulated buildings that feature below-market rents. It also offers financial products and services to individuals and businesses. The company was founded on July 20, 1993 and is headquartered in Westbury, NY.
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