Earnings Preview: New York Bancorp

Jan.26.09 | About: New York (NYCB)

New York Bancorp (NYB) is expected to report Q4 earnings before market open Tuesday, January 27 with a conference call scheduled for 9:30 am ET.


Analysts are looking for EPS of 26c on revenue of $220.77M. The consensus range for EPS is 24c-30c, while the consensus range for revenue is $217.27M -$225M, according to First Call. Investors should be encouraged by the fact that New York Bancorp declined on January 13 to receive $596M in TARP funds. "We believe that our current capital position is sufficient to support the communities we serve and to enhance shareholder value by growing our assets, our franchise, and our earnings capacity," the bank's CEO, Joseph R. Ficalora, stated at the time. Unlike many of its banking peers, New York Bancorp's shares have risen since January 12.

Analyst Views

Meanwhile, Raymond James on December 31 named New York Bancorp as one of its best picks for 2009. Ficalora is slated to speak at the Citi Financial Services Conference on January 28 at 2 pm ET.