Analysts are weighing in on how New York Community Bancorp, Inc. (NYSE:NYCB) , might perform in the near term. Wall Street analysts have a much less favorable assessment of the stock, with a mean rating of 2.6. The stock is rated as buy by 4 analysts, with 2 outperform and 6 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 13.00 analysts offering adjusted EPS forecast have a consensus estimate of $0.28 a share, which would compare with $0.28 in the same quarter last year. They have a high estimate of $0.28 and a low estimate of $0.27. Revenue for the period is expected to total nearly $324.35M from $285.10M the year-ago period.
For the full year, 8.00 Wall Street analysts forecast this company would deliver earnings of 1.12 per share, with a high estimate of $1.15 and a low estimate of $1.09. It had reported earnings per share of $1.11 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $1.43B versus 408.08M in the preceding year.
The analysts project the company to maintain annual growth of around 7.29% percent over the next five years as compared to an average growth rate of 7.44% percent expected for its competitors in the same industry.
Among the 14 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for NYCB is $16.57 but some analysts are projecting the price to go as high as $20.00. If the optimistic analysts are correct, that represents a 30 percent upside potential from the recent closing price of $15.44. Some sell-side analysts, particularly the bearish ones, have called for $14.50 price targets on shares of New York Community Bancorp, Inc. (NYSE:NYCB) .
In the last reported results, the company reported earnings of $0.28 per share, while analysts were calling for share earnings of $0.26. It was an earnings surprise of 7.70%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
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. Its loan portfolio comprises one-to-four family loans; multi-family loans; commercial real estate loans; acquisition, development, and construction loans; commercial and industrial loans; home equity lines of credit; and consumer loans. The company also provides installment loans, revolving lines of credit, and insurance products, as well as cash management, online and phone banking, and ATM services. It serves small and mid-size businesses, professional associations, and government agencies, as well as consumers. The company serves its customers through a network of 227 Community Bank branches, 30 Commercial Bank branches, and 273 ATM locations. The company was formerly known as Queens County Bancorp, Inc. and changed its name to New York Community Bancorp, Inc. in November 2000. New York Community Bancorp, Inc. was founded in 1859 and is based in Westbury, New York.