Form 8-K/A NEW YORK COMMUNITY BANCO For: Jan 31

Go back to Form 8-K/A NEW YORK COMMUNITY BANCO For: Jan 31

New York Community Bancorp (NYCB) Halted on Circuit Breaker, Down 41.5%

January 31, 2024 9:34 AM EST

New York Community Bancorp (NYSE: NYCB) Halted on Circuit Breaker, Down 41.5%

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RBC Capital on New York Community Bancorp (NYCB): 'results were weaker than expected'

January 31, 2024 9:15 AM EST

RBC Capital analyst Steven Duong reiterated an Outperform rating and $13.00 price target on New York Community Bancorp (NYSE: NYCB).

The analyst comments "4Q23 reported loss per share of $0.27, consensus EPS of $0.36. The primary reason for the loss was a larger than expected provision for credit losses. This was a major negative surprise. The company also reduced its common dividend from $0.17 per quarter to $0.05 per share. This was another major negative surprise. Overall, results... More

JPMorgan on New York Community Bancorp (NYCB): 'quite a bit to unpack'

January 31, 2024 9:13 AM EST

JPMorgan analyst Steven Alexopoulos reiterated an Overweight rating on New York Community Bancorp (NYSE: NYCB).

The analyst comments "Core EPS of ($0.27) well below Street expectations. NYCB reported 4Q23 EPS of ($0.36). At first blush, core EPS appear in the ($0.27) range, which was well below our forecast of $0.30 as well as consensus at $0.29. Compared with our 4Q23 forecast, the wide miss was driven by provision expense being reported $509mm above our forecast (detracted $0.54) while PTPP income was reported $50mm below our projection (detracted $0.05). In the final quarter of 2023, the company took several (and decisive)... More