$262.94 Million in Sales Expected for New York Community Bancorp, Inc. (NYSE:NYCB) This Quarter

Wall Street brokerages expect that New York Community Bancorp, Inc. (NYSE:NYCB) will report $262.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for New York Community Bancorp’s earnings. The highest sales estimate is $269.10 million and the lowest is $259.54 million. New York Community Bancorp posted sales of $266.11 million during the same quarter last year, which suggests a negative year over year growth rate of 1.2%. The company is expected to report its next earnings results on Tuesday, May 5th.

According to Zacks, analysts expect that New York Community Bancorp will report full-year sales of $1.10 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.11 billion. For the next year, analysts anticipate that the company will report sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow New York Community Bancorp.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm had revenue of $259.93 million during the quarter, compared to analysts’ expectations of $260.36 million. During the same period in the prior year, the company earned $0.19 EPS.

Several brokerages have issued reports on NYCB. ValuEngine raised New York Community Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Credit Suisse Group reissued a “hold” rating and issued a $11.50 target price on shares of New York Community Bancorp in a research report on Sunday, February 2nd. Piper Sandler raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 target price on the stock in a research report on Monday, February 10th. Stephens dropped their target price on New York Community Bancorp from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $13.00 target price on shares of New York Community Bancorp in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.20.

Several hedge funds and other institutional investors have recently bought and sold shares of NYCB. FMR LLC raised its stake in New York Community Bancorp by 40.1% in the 1st quarter. FMR LLC now owns 31,397 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 8,981 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of New York Community Bancorp during the third quarter valued at about $266,000. Nisa Investment Advisors LLC increased its position in shares of New York Community Bancorp by 13.2% during the third quarter. Nisa Investment Advisors LLC now owns 189,200 shares of the financial services provider’s stock valued at $2,374,000 after buying an additional 22,000 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of New York Community Bancorp by 24.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 209,374 shares of the financial services provider’s stock valued at $2,628,000 after buying an additional 40,577 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of New York Community Bancorp during the third quarter valued at about $164,000. 60.77% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:NYCB traded down $0.07 on Thursday, hitting $11.19. The stock had a trading volume of 1,976,455 shares. The business’s 50-day simple moving average is $11.55 and its two-hundred day simple moving average is $11.99. New York Community Bancorp has a 52-week low of $9.38 and a 52-week high of $13.79.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Friday, February 7th.

New York Community Bancorp Company Profile

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

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

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