Brokerages Anticipate New York Community Bancorp, Inc. (NYCB) Will Announce Quarterly Sales of $267.21 Million

Brokerages expect that New York Community Bancorp, Inc. (NYSE:NYCB) will report sales of $267.21 million for the current quarter, according to Zacks. Seven analysts have provided estimates for New York Community Bancorp’s earnings, with the lowest sales estimate coming in at $263.30 million and the highest estimate coming in at $270.70 million. New York Community Bancorp posted sales of $293.15 million in the same quarter last year, which suggests a negative year-over-year growth rate of 8.8%. The business is expected to report its next earnings report before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that New York Community Bancorp will report full-year sales of $1.09 billion for the current year, with estimates ranging from $1.07 billion to $1.10 billion. For the next financial year, analysts forecast that the business will post sales of $1.13 billion, with estimates ranging from $1.09 billion to $1.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $270.31 million during the quarter, compared to analysts’ expectations of $270.24 million. New York Community Bancorp had a return on equity of 6.76% and a net margin of 23.72%. During the same period in the prior year, the business posted $0.26 EPS.

A number of equities research analysts recently weighed in on NYCB shares. Zacks Investment Research restated a “hold” rating on shares of New York Community Bancorp in a research note on Monday, December 31st. Credit Suisse Group restated a “hold” rating and set a $11.00 price objective on shares of New York Community Bancorp in a research note on Monday, January 7th. UBS Group upgraded New York Community Bancorp from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $9.50 to $10.00 in a research note on Tuesday, January 8th. Barclays cut New York Community Bancorp from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 10th. Finally, TheStreet upgraded New York Community Bancorp from a “c” rating to a “b-” rating in a research note on Wednesday, January 30th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.95.

Shares of NYSE NYCB opened at $11.38 on Monday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $5.32 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.40 and a beta of 0.98. New York Community Bancorp has a 1-year low of $8.61 and a 1-year high of $13.07.

In other New York Community Bancorp news, Director Dominick Ciampa bought 34,000 shares of New York Community Bancorp stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average cost of $11.61 per share, with a total value of $394,740.00. Following the transaction, the director now directly owns 7,508 shares of the company’s stock, valued at approximately $87,167.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.17% of the company’s stock.

A number of large investors have recently made changes to their positions in NYCB. Panagora Asset Management Inc. increased its position in New York Community Bancorp by 37.1% during the 3rd quarter. Panagora Asset Management Inc. now owns 35,948 shares of the financial services provider’s stock valued at $373,000 after buying an additional 9,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of New York Community Bancorp in the third quarter valued at about $252,000. JPMorgan Chase & Co. increased its holdings in shares of New York Community Bancorp by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 1,696,955 shares of the financial services provider’s stock valued at $17,597,000 after purchasing an additional 31,311 shares during the period. LPL Financial LLC increased its holdings in shares of New York Community Bancorp by 5.8% in the third quarter. LPL Financial LLC now owns 120,278 shares of the financial services provider’s stock valued at $1,247,000 after purchasing an additional 6,543 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of New York Community Bancorp in the third quarter valued at about $122,000. 68.10% of the stock is currently owned by institutional investors.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.

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Earnings History and Estimates for New York Community Bancorp (NYSE:NYCB)

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