New York Community Bancorp, Inc. (NYCB) is aiming to diversify its loan portfolio. Loan portfolio repricing will drive net interest income (NII) growth, while cross-selling opportunities will aid fee income. Yet, commercial real estate (CRE) loan exposure is concerning, and unexpected losses on its New York office and multi-family property could create headwinds. The bank has a strong balance sheet. Deposits saw a four-year (2019-2023) compound annual growth rate (CAGR) of 26%, while net loans witnessed a C ...

New York Community Bancorp, Inc.'s (NYCB) Long-Term Issuer Default Ratings (IDRs) were recently downgraded to BB from BB+ by Fitch Ratings. Nonetheless, the rating outlook remains stable.The primary reasons behind the downgrade were NYCB's weak earnings and profitability, along with execution risk associated with its restructuring plan.Principal Factors Driving the DowngradeDeclining Profitability: The rating downgrade comes after the release of its first-quarter earnings. Results showed a significant rise ...

New York Community Bancorp got the cash infusion it needed to enact a turnaround, but it will be a years-long process. Don't wait.To simplify the story, New York Community Bancorp (NYCB 3.40%) got too big, too fast just as interest rate increases made operating a bank more complicated. It ended up needing a huge cash infusion, and it massively reduced its dividend to just a penny per share per quarter, all in support of a broader turnaround effort. Now that it offers little in the way of dividend income and ...

Spencer Platt In February, I covered the chaos at New York Community Bancorp, Inc. (NYSE:NYCB) after key risk and audit executives resigned, the bank reported a Q4 loss, and Moody's downgraded its credit. Fortunately for NYCB, an investor group led by former US Treasury Secretary Steve Mnuchin stepped in with a $1 billion rescue package in March, giving the group roughly 40% control of the bank and a new CEO. Since then, the new management has begun a cleanup operation to diversify and return the bank to pr ...

New York Community Bancorp (NYCB) reported the first-quarter 2024 loss of 25 cents per share compared with the Zacks Consensus Estimate of a loss of 13 cents. It reported earnings of 23 cents in the year-ago quarter.The results were primarily affected by a significant rise in provisions for credit losses and expenses. A fall in non-interest income and lower deposit balance were additional concerns. However, substantial growth in net interest income (NII) acted as a tailwind. The net loss to common stockhold ...

Key TakeawaysNew York Community Bancorp (NYCB) shares soared 28% Wednesday after the bank laid out a plan to return to profitability, even as it reported a wider-than-expected loss for the first quarter.NYCB has struggled after posting an unexpected loss earlier this year as its loans in the commercial real estate and multifamily property space were revealed to be in danger.Jefferies analysts said the first-quarter results were "better than worst-case fears." Shares of New York Community Bancorp (NYCB) soar ...

Forward-Looking Information More information regarding some of these factors is provided in the Risk Factors section of our Annual Report on Form 10‐K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023 and in other Securities and Exchange Commission ("SEC") reports we file. Our forward‐looking statements may also be subject to other risks and uncertainties, including those we may discuss in this Amendment, during ...

Management sees a clear path back to profitability.Troubled New York Community Bancorp (NYCB 30.75%) lost more than analysts expected in the first quarter, but after its earnings report Wednesday morning, investors were more focused on management's upbeat commentary about what is to come. As of 11 a.m. ET, shares of the regional lender had leaped 34% higher.The path is clearingNew York Community has been making headlines for all the wrong reasons this year. The bank's shares plunged following a late-January ...

New York Community Bancorp (NYCB) came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -92.31%. A quarter ago, it was expected that this bank holding company would post earnings of $0.29 per share when it actually produced a loss of $0.27, delivering a surprise of -193.10%.Over the last four q ...

A New York Community Bank stands in Brooklyn, New York City, on Feb. 8, 2024.New York Community Bank on Wednesday posted a quarterly loss of $335 million on a rising tide of soured commercial loans and higher expenses, but the lender's stock surged on its new performance targets.The first-quarter loss, equal to 45 cents per share, compared to net income of $2.0 billion, or $2.87 per share a year earlier. When adjusted for charges included merger-related items, the loss was $182 million, or 25 cents per shar ...