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New York Community Bancorp (NYCB) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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New York Community Bancorp (NYCB - Free Report) reported $671 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 44.2%. EPS of -$1.05 for the same period compares to $1.41 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $701.39 million, representing a surprise of -4.33%. The company delivered an EPS surprise of -176.32%, with the consensus EPS estimate being -$0.38.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how New York Community Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 2% compared to the 2.2% average estimate based on seven analysts.
Book value per common share(GAAP): $22.47 versus the six-analyst average estimate of $8.50.
Average Balances-Interest earning assets: $113.21 billion compared to the $109.08 billion average estimate based on six analysts.
Efficiency Ratio: 95.1% versus 90.7% estimated by six analysts on average.
Net charge-offs to average loans: 0.4% versus 0.5% estimated by four analysts on average.
Total non-interest income (loss): $114 million versus the seven-analyst average estimate of $117.83 million.
Net Interest Income: $557 million versus the seven-analyst average estimate of $582.80 million.
Bank-owned life insurance: $12 million versus $10.23 million estimated by six analysts on average.
Fee income: $41 million versus $31.14 million estimated by six analysts on average.
Net gain on loan sales and securitizations: $18 million compared to the $19.44 million average estimate based on five analysts.
Net return on mortgage servicing rights: $19 million versus $21.33 million estimated by four analysts on average.
Other non-interest (loss) income: $29 million compared to the $18.42 million average estimate based on four analysts.
Shares of New York Community Bancorp have returned +19.2% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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New York Community Bancorp (NYCB) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
New York Community Bancorp (NYCB - Free Report) reported $671 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 44.2%. EPS of -$1.05 for the same period compares to $1.41 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $701.39 million, representing a surprise of -4.33%. The company delivered an EPS surprise of -176.32%, with the consensus EPS estimate being -$0.38.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how New York Community Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 2% compared to the 2.2% average estimate based on seven analysts.
- Book value per common share(GAAP): $22.47 versus the six-analyst average estimate of $8.50.
- Average Balances-Interest earning assets: $113.21 billion compared to the $109.08 billion average estimate based on six analysts.
- Efficiency Ratio: 95.1% versus 90.7% estimated by six analysts on average.
- Net charge-offs to average loans: 0.4% versus 0.5% estimated by four analysts on average.
- Total non-interest income (loss): $114 million versus the seven-analyst average estimate of $117.83 million.
- Net Interest Income: $557 million versus the seven-analyst average estimate of $582.80 million.
- Bank-owned life insurance: $12 million versus $10.23 million estimated by six analysts on average.
- Fee income: $41 million versus $31.14 million estimated by six analysts on average.
- Net gain on loan sales and securitizations: $18 million compared to the $19.44 million average estimate based on five analysts.
- Net return on mortgage servicing rights: $19 million versus $21.33 million estimated by four analysts on average.
- Other non-interest (loss) income: $29 million compared to the $18.42 million average estimate based on four analysts.
View all Key Company Metrics for New York Community Bancorp here>>>Shares of New York Community Bancorp have returned +19.2% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.