New York Community Bancorp (NYSE:NYCB) Issues FY 2024 Earnings Guidance

New York Community Bancorp (NYSE:NYCB) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of -3.100–3.000 for the period, compared to the consensus estimate of -2.460. The company issued revenue guidance of -. New York Community Bancorp also updated its FY 2025 guidance to -0.350–0.300 EPS.

New York Community Bancorp Stock Performance

NYCB opened at $10.37 on Friday. The firm has a fifty day moving average price of $11.12 and a 200 day moving average price of $12.16. New York Community Bancorp has a 1 year low of $5.10 and a 1 year high of $34.47. The stock has a market cap of $4.31 billion, a P/E ratio of -4.17 and a beta of 1.00. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (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 firm had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. During the same period in the previous year, the company earned $4.23 earnings per share. The company’s revenue was down 44.2% compared to the same quarter last year. Equities research analysts anticipate that New York Community Bancorp will post -2.41 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Saturday, September 7th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s payout ratio is currently -1.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NYCB. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their target price on shares of New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Citigroup upped 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 report on Wednesday, July 3rd. Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $14.00 in a report on Thursday, September 26th. Finally, Wedbush reissued a “neutral” rating and set a $31.50 target price on shares of New York Community Bancorp in a report on Friday, July 26th. 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’s stock. Based on data from MarketBeat, New York Community Bancorp presently has an average rating of “Hold” and a consensus price target 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.