New York Community Bancorp Inc. (NYCB) - NYSE
  • Jan. 28, 2015, 5:30 PM
  • Jan. 26, 2015, 3:16 PM
    • New York Community Bancorp (NYSE:NYCB) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 6.28%
    • Payable Feb. 20; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Jan. 26, 2015, 3:16 PM
  • Nov. 7, 2014, 3:19 PM
    • Banks with as little as $50B in assets are currently subject to the Fed's CCAR - fairly absurd as there's roughly zero systemic risk from the failure of a bank with $50B in assets (or even $100B). While health, immigration, and tax reform in D.C. are getting a lot of headlines, banking industry reform may also now be on the way.
    • A KBW report finds banks with between $50B and $100B in assets have been limited to a dividend payout ratio of 40% or less, compared to ratios far higher for those lenders with less than $50B. The $50B line is front and center for New York Community Bancorp (NYSE:NYCB) - which currently has $48.7B in assets and a 93% dividend payout ratio. CEO Joseph Ficalora would like to get back to doing acquisitions, but knows the bank can kiss that high payout goodbye if it does so under the current regulatory regime.
    • Should a Republican-led Congress push to boost the threshold to, say, $100M, it would find a friend in the Fed's Daniel Tarullo who has already mused about doing so. "I would not expect President Obama to exercise veto power over this," says a financial services attorney.
    • Among the players with $50B-$100B in assets: HBAN, KEY, MTB, ZION, CMA.
    • ETFs: KRE, KBE, IAT, KBWB, RKH, QABA, KRU, KBWR, KRS
    | Nov. 7, 2014, 3:19 PM | 10 Comments
  • Oct. 22, 2014, 7:48 AM
    • Q3 GAAP earnings of $120.3M or $0.27 per share vs. $114.2M and $0.26 one year ago.
    • Multi-family loans held for investment of $22.9B up an annualized 13.9% through the year's first nine months.
    • Net interest income of $289M vs. $294M one year ago, with NIM of 2.69% down 35 basis points.
    • Noninterest income of $41.3M vs. $50.7M one year ago, thanks to an FDIC indemnification expense this quarter vs. indemnification income last year. Mortgage banking income of $16.6M up slightly from a year ago.
    • Noninterest expense of $145.2M vs. $150.3M a year ago.
    • Conference call at 8:30 ET
    • Previously: New York Community Bancorp beats by $0.03, beats on revenue
    • NYCB no trades premarket
    | Oct. 22, 2014, 7:48 AM
  • Oct. 22, 2014, 7:05 AM
    • New York Community Bancorp (NYSE:NYCB): Q3 EPS of $0.29 beats by $0.03.
    • Revenue of $330.31M (-4.2% Y/Y) beats by $42.69M.
    | Oct. 22, 2014, 7:05 AM
  • Oct. 21, 2014, 5:30 PM
  • Sep. 17, 2014, 3:16 PM
    • Leading markets higher as the reality of higher interest rates gets nearer is the financial sector (XLF +0.9%). Whether its banks, brokerages, or insurers, a higher benchmark rate for some time has been considered a key bullish catalyst. An especially large move is being seen in the online brokerage names who have been forced to forego money market fees for years thanks to ZIRP: E*Trade (ETFC +3%), Schwab(SCHW +3.2%), Ameritrade (AMTD +2%).
    • Morgan Stanley (MS +1.8%), Bank of America (BAC +1.2%), JPMorgan (JPM +0.9%)
    • U.S. Bancorp (USB +1.1%), Regions Financial (RF +2%), New York Community Bank (NYCB +0.8%), Huntington Bancshares (HBAN +1.3%), KeyCorp (KEY +1.3%)
    • MetLife (MET +0.6%), Voya Financial (VOYA +0.7%).
    • Chubb(CB +0.4%), AIG (AIG +1.1%), Hartford (HIG +0.8%)
    • Financial sector ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, KIE, IAT, SEF, IYG, IAK, FXO, KBWB, FNCL, RKH, QABA, FINU, KRU, KBWR, RWW, KBWP, RYF, KBWI, KRS, FINZ
    | Sep. 17, 2014, 3:16 PM | 6 Comments
  • Jul. 23, 2014, 7:25 AM
    • Cash earnings of $0.29 per share comes against the just-declared $0.25 dividend.
    • Net interest income of $283.5M slips $658K from Q1 with NIM falling six basis points to 2.66%.
    • Noninterest income of $52.6M rises $15.4M from Q1, and slips $1.2M Y/Y. Much of the sequential rise comes from a gain booked on the sale of $32.2M in non-performing loans tied to a single borrower. Also, mortgage banking income rose a bit sequentially, but fell from a year ago.
    • Noninterest expense of $147.7M up $1.5M from Q1, and falling $3.8M from a year ago.
    • Assets of $48.6B puts NYCB near the $50B level at which heightened regulatory scrutiny kicks in. Expect a discussion of this on the 8:30 earnings call as First Republic fell hard last week and hasn't yet gotten up after management noted the elevated expenses associated with going over $50B.
    • Previously: New York Community Bancorp beats by $0.03, beats on revenue
    | Jul. 23, 2014, 7:25 AM
  • Jul. 23, 2014, 7:10 AM
    • New York Community Bancorp (NYSE:NYCB): Q2 EPS of $0.29 beats by $0.03.
    • Revenue of $336.1M (-4.9% Y/Y) beats by $48.9M.
    | Jul. 23, 2014, 7:10 AM
  • Jul. 22, 2014, 5:30 PM
  • Jul. 16, 2014, 3:13 PM
    • Flattish for most of the session following this morning's earnings miss, First Republic (FRC -13.7%) tumbles amid the earnings call, with management noting the elevated expenses associated with getting over $50B in assets (and thus being subject to heightened regulatory scrutiny).
    • The bank says its efficiency ratio - guided at 59-62% - will remain elevated until sometime in 2016.
    • New York Community Bank (NYCB -3%) - also around that $50B level - is sliding in concert.
    • Previously: First Republic Bank misses by $0.07, misses on revenue
    | Jul. 16, 2014, 3:13 PM | 5 Comments
  • Jun. 10, 2014, 1:17 PM
    • Of the bank's size ($47.6B in assets), NYCB CEO Joe Ficalora doesn't seem too worried about growing to over $50B - the line at which regulatory scrutiny could be stepped up. He notes recent comments from Fed Governor Tarullo that $100B is probably a more relevant line which should be crossed.
    • Webcast and presentation slides
    • NYCB multi-family lending is distinguished from peers in that the majority is for buildings with rent-controlled units, i.e. below-market rents. This makes those properties less likely to face vacancies when the economy and credit cycle head south. It's a big factor behind net charge-offs averaging just 0.04% since coming public in 1993.
    | Jun. 10, 2014, 1:17 PM
  • Apr. 30, 2014, 8:24 AM
    • Net interest income of $284.2M fell from $297.3M in Q4, with NIM of 2.72% slipping 20 basis points. Average balance of interest-earning assets of $41.5B is up $760.7M, with $594.8M increase in average loan balance and $165.8M boost to securities and money market investment balances.
    • Noninterest income of $37.2M slips $1.6M from Q4 thanks to an increase in FDIC indemnification expense recorded in connection with the recovery from the allowance for covered loan losses. Offsetting that was a $1.9M increase in mortgage banking income. Noninterest expense of $146.3M slipped $3.1M.
    • Held-for-investment loans grew $1B, or 13.8% on an annualized basis in Q1 to $30.9B. Multi-family loans accounted for about three-quarters of that. Campaign to boost deposits paying off, with deposits rising $1.1B to $26.8B.
    • Multi-family loan portfolio of $21.5B, represents about 70% held-for-investment loans, with expected average weighted life of 2.9 years. Commercial loan portfolio of $7.5B represents about 24% of held-for-investment loans, with expected average weighted life of 3.4 years.
    • Previously: New York Community Bancorp beats by $0.03, misses on revenue
    • NYCB no trades premarket
    | Apr. 30, 2014, 8:24 AM
  • Apr. 30, 2014, 8:06 AM
    • New York Community Bancorp (NYCB): Q1 EPS of $0.29 beats by $0.03.
    • Revenue of $284.15M (+3.3% Y/Y) misses by $7.99M.
    | Apr. 30, 2014, 8:06 AM | 3 Comments
  • Feb. 7, 2014, 12:41 PM
    • Liquidity is becoming an issue at many community and regional banks, says Sterne Agee's Matthew Kelley, noting growing loan-to-deposit ratios. Bank runs are not the worry, but keeping loan pipelines well funded is, and a number of smaller players could be acquisition targets for lenders looking to boost deposits.
    • Kelley's list of 12 possibilities in the Northeast: Westfield Financial (WFD +0.1%), Century Bancorp (CNBKA -0.9%), Hudson Valley Holding (HVB +0.1%), Republic First (FRBK +1%), Metro Bancorp (METR +0.4%), Suffolk Bancorp (SUBK +3.3%), Citizens and Northern (CZNC +0.3%), Sun Bancorp (SNBC), First Niagara (FNFG +1.7%), Orrstown Financial (ORRF +0.4%), Camden National (CAC +0.5%), Cambridge Bancorp (CATC +0.2%).
    • Under pressure to raise deposits? Susquehanna Bancshares (SUSQ -0.6%) - whose loan-to-deposit ratio rose to 105.5% in Q4 from 102.5% a year earlier. Investors Bancorp (ISBC) with a ratio of 120%, New York Community Bancorp (NYCB), Astoria Financial (AF +0.8%), and People's United (PBCT +0.2%).
    | Feb. 7, 2014, 12:41 PM | 2 Comments
  • Jan. 30, 2014, 8:28 AM
    • KBW cashes in its chips on New York Community Bancorp (NYCB) following yesterday's earnings, downgrading the stock from Outperform to Market Perform.
    • On the earnings call (transcript), KBW's Collyn Gilbert's initial question notes the loan pipeline stood at just $2.4B at the end of Q4 vs. about $4B a year earlier. Management responds that it's happy with recent results and expectations of high single-digit  growth for this year could end up being conservative. "The market is very strong, Collyn," says CEO Joseph Ficalora, "And not only will we have growth, but other lenders in this market will have growth."
    • Shares -1% premarket
    | Jan. 30, 2014, 8:28 AM
Company Description
New York Community Bancorp, Inc. is a multi-bank holding company. The company operates it business through its two subsidiaries: New York Community Bank and New York Commercial Bank. The New York Community Bank is a New York State-chartered savings bank serving customers throughout Metro New... More
Sector: Financial
Industry: Savings & Loans
Country: United States