Previous Close | 2.7900 |
Open | 2.7600 |
Bid | 0.0000 x 36200 |
Ask | 0.0000 x 28000 |
Day's Range | 2.6200 - 2.8200 |
52 Week Range | 1.7000 - 14.2200 |
Volume | |
Avg. Volume | 39,400,501 |
Market Cap | 2.131B |
Beta (5Y Monthly) | 0.91 |
PE Ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | 0.20 (7.55%) |
Ex-Dividend Date | Feb 13, 2024 |
1y Target Est | N/A |
(Bloomberg) -- New York Community Bancorp Inc.’s charge-offs and provisions for potential loan losses declined in the first quarter from the previous three months, which could help allay commercial-property concerns that have hounded the lender since it last reported results.Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketNYC Police Break Up Columbia Protest and Clashes Erupt at UCLAAmazon Posts Strongest Cloud Sales Growth in a Year on AI DemandPot Stocks Surge
"We anticipate an elevated level of loan loss provision over the remainder of 2024 related to the potential for market and rate conditions to impact borrower performance on certain portions of our loan portfolio," newly appointed CEO Joseph Otting said in a statement. Otting added the bank is targeting significantly higher profitability and higher capital levels by the end of 2026. Analysts and investors expect NYCB will have to lure buyers for its CRE loans with steep discounts and diversify its revenue as it races to shore up its finances.
New York Community Bancorp reported a loss for the first quarter on Wednesday, as the commercial real estate-focused lender set aside more funds to cover possible defaults. "We anticipate an elevated level of loan loss provision over the remainder of 2024 related to the potential for market and rate conditions to impact borrower performance on certain portions of our loan portfolio," newly appointed CEO Joseph Otting said in a statement. Otting added the bank is targeting significantly higher profitability and higher capital levels by the end of 2026.