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Here's What Key Metrics Tell Us About New York Community Bancorp (NYCB) Q3 Earnings
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New York Community Bancorp (NYCB - Free Report) reported $1.04 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 203.8%. EPS of $0.36 for the same period compares to $0.31 a year ago.
The reported revenue represents a surprise of +11.82% over the Zacks Consensus Estimate of $931.9 million. With the consensus EPS estimate being $0.35, the EPS surprise was +2.86%.
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 [%]: 3.3% compared to the 3% average estimate based on seven analysts.
Efficiency Ratio: 56.2% versus 59.3% estimated by seven analysts on average.
Average Balances-Interest earning assets: $107.10 billion versus the six-analyst average estimate of $107.41 billion.
Net charge-offs to average loans: 0% compared to the 0% average estimate based on four analysts.
Total non-interest income (loss): $160 million versus $127.53 million estimated by seven analysts on average.
Net Interest Income: $882 million compared to the $808.39 million average estimate based on seven analysts.
Bank-owned life insurance: $11 million versus the six-analyst average estimate of $11.21 million.
Fee income: $58 million versus the six-analyst average estimate of $40.04 million.
Net gain on loan sales and securitizations: $28 million versus the five-analyst average estimate of $22.60 million.
Net return on mortgage servicing rights: $23 million compared to the $23.25 million average estimate based on four analysts.
Other non-interest (loss) income: $21 million versus $13.27 million estimated by four analysts on average.
Net loan administration income: $19 million versus $12.33 million estimated by three analysts on average.
Shares of New York Community Bancorp have returned -11% over the past month versus the Zacks S&P 500 composite's -3.4% 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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Here's What Key Metrics Tell Us About New York Community Bancorp (NYCB) Q3 Earnings
New York Community Bancorp (NYCB - Free Report) reported $1.04 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 203.8%. EPS of $0.36 for the same period compares to $0.31 a year ago.
The reported revenue represents a surprise of +11.82% over the Zacks Consensus Estimate of $931.9 million. With the consensus EPS estimate being $0.35, the EPS surprise was +2.86%.
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 [%]: 3.3% compared to the 3% average estimate based on seven analysts.
- Efficiency Ratio: 56.2% versus 59.3% estimated by seven analysts on average.
- Average Balances-Interest earning assets: $107.10 billion versus the six-analyst average estimate of $107.41 billion.
- Net charge-offs to average loans: 0% compared to the 0% average estimate based on four analysts.
- Total non-interest income (loss): $160 million versus $127.53 million estimated by seven analysts on average.
- Net Interest Income: $882 million compared to the $808.39 million average estimate based on seven analysts.
- Bank-owned life insurance: $11 million versus the six-analyst average estimate of $11.21 million.
- Fee income: $58 million versus the six-analyst average estimate of $40.04 million.
- Net gain on loan sales and securitizations: $28 million versus the five-analyst average estimate of $22.60 million.
- Net return on mortgage servicing rights: $23 million compared to the $23.25 million average estimate based on four analysts.
- Other non-interest (loss) income: $21 million versus $13.27 million estimated by four analysts on average.
- Net loan administration income: $19 million versus $12.33 million estimated by three analysts on average.
View all Key Company Metrics for New York Community Bancorp here>>>Shares of New York Community Bancorp have returned -11% over the past month versus the Zacks S&P 500 composite's -3.4% 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.