New York Community Bancorp Inc.NYSE
What Is Driving New York Community Bancorp's Share Price Higher?
Harvard Winters • 26 Comments
Harvard Winters • 26 Comments
Wed, Oct. 26, 7:02 AM
Tue, Oct. 25, 5:30 PM
- AB, AGCO, AIT, ALLY, AOS, AVX, AVY, BA, BCO, BEN, BIIB, BOKF, BSX, CFR, CG, CMCSA, DTE, ENTG, EVR, EXAS, FDML, FLIR, GD, GNRC, GRA, GRMN, GRUB, HBAN, HES, HLT, IR, KO, LEA, LH, LRN, LUV, MDCO, MDLZ, MKTX, MMYT, NAP, NDAQ, NEO, NOC, NSC, NYCB, OC, PAG, PB, POL, RES, ROL, SAIA, SIX, SLAB, SLGN, SMED, SONS, SPG, STRA, STT, UCBI, VG, VLY, VNTV, WEC, WM, WOOF, WYN
Wed, Sep. 28, 9:32 AM
- "Large banks are going to be forced to take on more capital," says Dick Bove. "It will make the cost of funding more, not less, expensive. It will reduce the appeal for investors to put money at risk in the banking system."
- Bove is commenting on a weekend announcement from Fed Governor Daniel Tarullo promising future stress tests will be geared to demanding even higher cash buffers for banks. Set to take effect next year, the new rule could raise capital requirements for the largest banks by 3 or 4 percentage points, writes Jeff Cox at CNBC.
- Interested parties: BAC, C, WFC, JPM, GS, MS
- There's good news though, as those lenders with less than $250B in assets won't be subject to the same standards. FBR's Edward Mills calls it a "significant positive" for regionals, which now have more certainly on the process, reduced regulatory expenses, and thus the ability to return more capital to owners.
- Interested parties: RF, ZION, CMA, KEY, FITB, STI, NYCB, HBAN, PNC, BBT, MTB
- ETFs: KRE, KBE, IAT, KBWB, QABA, KBWR, KRU, PSCF, KRS, WDRW, DPST
Wed, Sep. 14, 11:53 AM
- While real estate was broken out of the S&P financials into its own sector this month, those were just equity REITs, with mortgage REITs still residing in financials.
- While much of the talk has been around how equity REITs might gain from the switch, the team at KBW believes mREITs could be a big beneficiary, and Annaly Capital (NYSE:NLY) - by far the largest of the group - could be added to the S&P 500.
- Other financials up for possible inclusion, according to KBW: First Republic Bank (NYSE:FRC), New York Community Bancorp (NYSE:NYCB), Ally Financial (NYSE:ALLY), MSCI (NYSE:MSCI), Arch Capital (NASDAQ:ACGL), Alleghany (NYSE:Y).
Wed, Jul. 27, 7:03 AM
Tue, Jul. 26, 5:30 PM
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Tue, Apr. 26, 3:41 PM| Tue, Apr. 26, 3:41 PM | 1 Comment
Wed, Apr. 20, 12:19 PM
- Total assets at the bank fell during Q1, bringing them to $48.5B vs. the $50B threshold at which point the lender must deal with stiffer oversight. The decline means it's more likely the bank crosses that level with a boom - its purchase of Astoria Financial (AF -1.4%), which could come as early as Q3, but more likely after that.
- Sales from the multifamily property loan portfolio helped contribute to this month's decline in assets, but a bigger factor was lower interest rates and thus rising prepayments, says CEO Joseph Ficalora.
- There's rising competition as well, says Ficalora, and it's coming from sizable banks or nonbanks that want a piece of his lender's multifamily action. To Ficalora, it's a sign the cycle is nearing its back end. The newcomers will get shaken out, and long-established players like New York Community Bancorp (NYCB -1.6%) will continue to gain market share.
- Now read: New York Community Bancorp's Merger Doesn't Make Sense
Wed, Apr. 20, 7:04 AM
- New York Community Bancorp (NYSE:NYCB): Q1 EPS of $0.27 may not be comparable to consensus of $0.28.
- Net interest income of $327.9M (+12.0% Y/Y) beats by $4.37M.
Tue, Apr. 19, 5:30 PM
Wed, Jan. 27, 7:56 AM
- On a GAAP basis, the bank had a loss for Q4 and for the full year thanks to charges associated with the purchase of Astoria Financial (NYSE:AF) and related debt repositioning. Backing those out, NYCB earned $145.2M or $0.31 per share in Q4 and $502.8M and $1.11 for 2015. Q4 EPS was expected to be $0.27.
- Turning to operations, the lender originated $3.7B of held-for-investment loans in Q4, and a record $12.7B for 2015. Multi-family loans held for investment of $26B rose 9% Y/Y.
- Non-performing non-covered assets of $60.9M fell 56.2% Y/Y and represent 0.13% of total non-covered assets at year-end.
- Excluding charges, the bank's efficiency ratio was 41.27% in Q4.
- Alongside earnings, the bank as promised declares a $0.17 per share dividend.
- Previously: New York Community Bancorp beats by $0.04 (Jan. 27)
Wed, Jan. 27, 7:03 AM
- New York Community Bancorp (NYSE:NYCB): Q4 EPS of $0.31 beats by $0.04.
Tue, Jan. 26, 5:30 PM
Tue, Jan. 19, 10:01 AM
Wed, Jan. 13, 1:14 PM
- It wasn't supposed to be this way after the Fed embarked on a rate hike cycle as these yield-starved names could finally look forward to earning a better spread on their money.
- Since the Fed hiked last month, however, the long bond yield has tumbled about 20 basis points, further narrowing the yield curve.
- With today's 1.3% decline, the XLF is lower by 7.6% YTD, about 200 basis points worse than the S&P 500 (but about 250 basis points better than the energy sector).
- TBTFs: Morgan Stanley (MS -3.9%), Goldman Sachs (GS -2.3%), Citigroup (C -1.8%)
- Regionals: U.S. Bancorp (USB -2%), Regions Financial (RF -3.4%), New York Community Bancorp (NYCB -2.2%)
- Mortgage-related names like Ocwen (OCN -6.2%), Nationstar (NSM -5.3%), Walter Investment (WAC -13.9%), and New Residential (NRZ -5.3%) have come in for particular punishment this day and this year. The mortgage REITs too: Hatteras Financial (HTS -4.4%), Western Asset (WMC -3.6%), New York Mortgage (NYMT -2.3%), Five Oaks (OAKS -5.2%), PennyMac (PMT -2.6%)
- ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, SEF, IYG, FXO, FNCL, FINU, RWW, RYF, FINZ, XLFS
Nov. 30, 2015, 10:34 AM
- Savaged since its agreement one month ago to purchase Astoria Financial (AF +0.8%) and an accompanying capital raise, New York Community Bancorp (NYCB +1.3%) continues a modest bounce begun mid-month as it's upgraded to Buy at BAML.
- Previously: Investors not impressed as animal spirits return to bank M&A (Oct. 31)