NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent (2024)

FAQs

How much did NYCB cut the dividend? ›

Shares of New York Community Bancorp jumped Thursday, lifting regional-bank stocks, after the troubled lender cut its quarterly dividend to 1 cent a share from 5 cents.

NYCB has its own set of challenges, too

This is causing many large property owners to default on loans, which results in losses for NYCB and some of its peers. The Signature acquisition also pushed the bank beyond the $100 billion asset threshold, which comes with higher regulatory standards and capital requirements.

( NYCB ) pays dividends on a quarterly basis.

The turmoil around the bank began at the end of January, when the lender shocked shareholders and analysts by reporting a jump in loan loss provisions 10 times as large as expected and a sharp cut to its dividend. Those moves came amid mounting pressure from regulators at the Office of the Comptroller of the Currency.

SA Dividend Grades: Pain Avoidance

However, NYCB has an 'F' in dividend safety, defined as the company's ability to continue paying the current dividend amount, and it has a D- Dividend Growth.

For NYCB, the bank seems likely to survive. It is trading at a massive discount to its tangible book value, and there has not been any run on the firm's deposits. The people comparing it to Silicon Valley are missing a key element; the 2023 bank runs were primarily about uninsured deposits.

Fitch Ratings - New York - 07 Mar 2024: Fitch Ratings has affirmed the Long- and Short-Term Issuer Default Ratings of New York Community Bancorp (NYCB) and its bank subsidiary, Flagstar Bank, N.A. at 'BB+'/'B'.

NYCB Stock 12 Month Forecast

Based on 15 Wall Street analysts offering 12 month price targets for NY Community in the last 3 months. The average price target is $4.13 with a high forecast of $5.00 and a low forecast of $3.00. The average price target represents a 25.53% change from the last price of $3.29.

New York Community Bank customers withdrew $6 billion in one month. Customers of New York Community Bank (NYCB) pulled $6 billion worth of deposits between February 5 and March 5, leaving the bank's deposit base 7% lower, at $77 billion.

According to analysts, NYCB price target is 4.28 USD with a max estimate of 6.00 USD and a min estimate of 3.00 USD.

What is the outlook for NYCB? ›

Stock Price Forecast

The 15 analysts with 12-month price forecasts for NYCB stock have an average target of 5.90, with a low estimate of 3.00 and a high estimate of 17. The average target predicts an increase of 123.48% from the current stock price of 2.64.

Largest shareholders include BlackRock Inc., Vanguard Group Inc, Wellington Management Group Llp, State Street Corp, Dimensional Fund Advisors Lp, IJH - iShares Core S&P Mid-Cap ETF, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VWNDX - Vanguard Windsor Fund Investor Shares, NAESX - Vanguard Small-Cap ...

New York Community Bancorp Stock Forecast FAQ

Out of 14 analysts, 1 (7.14%) are recommending NYCB as a Strong Buy, 0 (0%) are recommending NYCB as a Buy, 12 (85.71%) are recommending NYCB as a Hold, 1 (7.14%) are recommending NYCB as a Sell, and 0 (0%) are recommending NYCB as a Strong Sell.

Compared to the current market price of 2.97 USD, New York Community Bancorp Inc is Undervalued by 55%.

Is New York Community Bancorp stock a Buy, Sell or Hold? New York Community Bancorp stock has received a consensus rating of hold. The average rating score is B2 and is based on 33 buy ratings, 47 hold ratings, and 6 sell ratings.

New York Community Bancorp is forecast to grow earnings and revenue by 92.9% and 8% per annum respectively. EPS is expected to grow by 95.7% per annum. Return on equity is forecast to be 4% in 3 years.