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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 $1.2 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 218.8%. EPS of $0.47 for the same period compares to $0.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $851.59 million, representing a surprise of +41.15%. The company delivered an EPS surprise of +46.88%, with the consensus EPS estimate being $0.32.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
Efficiency Ratio: 48.46% versus 62.36% estimated by seven analysts on average.
Net Interest Margin [%]: 3.21% versus the seven-analyst average estimate of 2.62%.
Average Balances-Interest earning assets: $112.30 billion versus the six-analyst average estimate of $107.63 billion.
Total non-interest income (loss): $302 million versus the seven-analyst average estimate of $92.47 million.
Net Interest Income: $900 million versus $743.79 million estimated by seven analysts on average.
Bank-owned life insurance: $11 million versus $10.04 million estimated by six analysts on average.
Fee income: $48 million versus $25.99 million estimated by six analysts on average.
Net gain on loan sales and securitizations: $25 million compared to the $21.60 million average estimate based on five analysts.
Other non-interest (loss) income: $14 million compared to the $12.97 million average estimate based on four analysts.
Net return on mortgage servicing rights: $25 million versus the three-analyst average estimate of $21 million.
Net loan administration income: $39 million compared to the $7 million average estimate based on two analysts.
Shares of New York Community Bancorp have returned +10.6% over the past month versus the Zacks S&P 500 composite's +5.6% 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 $1.2 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 218.8%. EPS of $0.47 for the same period compares to $0.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $851.59 million, representing a surprise of +41.15%. The company delivered an EPS surprise of +46.88%, with the consensus EPS estimate being $0.32.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
- Efficiency Ratio: 48.46% versus 62.36% estimated by seven analysts on average.
- Net Interest Margin [%]: 3.21% versus the seven-analyst average estimate of 2.62%.
- Average Balances-Interest earning assets: $112.30 billion versus the six-analyst average estimate of $107.63 billion.
- Total non-interest income (loss): $302 million versus the seven-analyst average estimate of $92.47 million.
- Net Interest Income: $900 million versus $743.79 million estimated by seven analysts on average.
- Bank-owned life insurance: $11 million versus $10.04 million estimated by six analysts on average.
- Fee income: $48 million versus $25.99 million estimated by six analysts on average.
- Net gain on loan sales and securitizations: $25 million compared to the $21.60 million average estimate based on five analysts.
- Other non-interest (loss) income: $14 million compared to the $12.97 million average estimate based on four analysts.
- Net return on mortgage servicing rights: $25 million versus the three-analyst average estimate of $21 million.
- Net loan administration income: $39 million compared to the $7 million average estimate based on two analysts.
View all Key Company Metrics for New York Community Bancorp here>>>Shares of New York Community Bancorp have returned +10.6% over the past month versus the Zacks S&P 500 composite's +5.6% 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.