New York Community Bancorp, Inc. : Post Earnings Coverage as New York Community Bancorp Reported Q4 and Full-Year FY16 Results

Upcoming AWS Coverage on BofI Holding Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 3, 2017 / Active Wall St. announces its post-earnings coverage on New York Community Bancorp, Inc. (NYSE: NYCB). The Company reported its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year 2016 (FY16) on January 25, 2017. The Westbury, New York-based Company reported a positive quarterly diluted EPS. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of New York Community Bancorp's competitors within the Savings & Loans space, BofI Holding, Inc. (NASDAQ: BOFI), announced its financial results for the fiscal second quarter 2017 ended December 31, 2016 on Monday, January 30, 2017. AWS will be initiating a research report on BofI Holding in the coming days.

Today, AWS is promoting its earnings coverage on NYCB; touching on BOFI. Get our free coverage by signing up to:

http://www.activewallst.com/registration-3/?symbol=NYCB

http://www.activewallst.com/registration-3/?symbol=BOFI

Earnings Reviewed

During Q4 FY16, New York Community Bancorp's total interest income fell to $415.35 million from $424.50 million in Q4 FY15. The Company's total interest expense declined to $99.83 million in Q4 FY16 from $873.70 million in Q4 FY15. Moreover, the Company reported net interest income on $315.52 million in Q4 FY16 compared to net interest loss of $449.20 million in Q4 FY15. Total non-interest income fell during Q4 FY16 to $32.37 million from $59.04 million in the year ago same quarter.

The bank holding Company reported net income of $113.73 million, or $0.23 per diluted common share, in Q4 FY16, against net loss of $404.81 million, or $0.87 loss per diluted common share, in Q4 FY15. Wall Street had expected the Company to report net income of $0.25 per diluted share in Q4 FY16. Furthermore, the Company's adjusted net income for the reported quarter was $113.97 million compared to adjusted net loss of $404.13 million in the prior year's corresponding quarter. In Q4 FY15, the Company reported loss, primarily due to repositioning of $10.4 billion of wholesale borrowings over the course of that quarter, resulting in a pre-tax debt repositioning charge of $915.0 million, equivalent to $546.8 million, or $1.17 per diluted share, after-tax.

In full year FY16, New York Community Bancorp's net interest income surged to $1.29 billion from $408.08 million in FY15. The Company's total noninterest income for FY16 came in at $145.57 million compared to $210.76 million in FY15. Additionally, the Company reported net income of $495.40 million, or $1.01 per diluted share in FY16, against net loss of $47.16 million, or $0.11 loss per diluted share, in the previous year.

Earnings Metrics

During the reported quarter, the Company's return on average tangible assets was 0.97% versus negative return of 3.44% in the prior year's comparable quarter. The return on average tangible stockholders' equity came in at 12.36% in Q4 FY16, against negative return on average stockholders' equity of 47.83% reported in the year ago same period. The Company's tangible book value improved to $7.57 per share in Q4 FY16 from $7.21 per share in Q4 FY15. Additionally, tangible stockholders' equity to tangible assets ratio was 7.93% in Q4 FY16, versus 7.30% in the year ago corresponding quarter.

Net interest margin for the reported quarter was 2.86% compared to negative net interest margin of 4.01% in Q4 FY15. In Q4 FY16, average total interest earning assets improved marginally to $44.18 billion from $44.11 billion in the previous year's same quarter. However, yield on average total interest earning assets fell to 3.76% in Q4 FY16 from 3.85% in Q4 FY15.

As on December 31, 2016, the Company's Common Equity Tier 1 ratio stood at 10.70% compared to 9.95% as at end of last year's fourth quarter. During Q4 FY16, the Company's leverage capital ratio has grown 8.00% from 7.77% in Q4 FY15. Furthermore, efficiency ratio during Q4 FY16 was 47.20% compared to a negative efficiency ratio 41.97% in Q4 FY15.

Balance Sheet Analyzed

New York Community Bancorp's total loans originated for investment was $2.03 billion during quarter ended December 31, 2016, compared to $3.72 billion in Q4 FY15. Total deposits amounted to $28.89 billion as on December 31, 2016, versus $28.43 billion recorded as on December 31, 2015.

The Company had total non-performing non-covered assets of $68.08 million as on December 31, 2016, compared to $60.89 million as on December 31, 2015. Furthermore, non-performing non-covered assets to total non-covered assets ratio stood at 0.14% as on December 31, 2016, versus 0.13% as on December 31, 2015.

Dividend

In the earnings press release, the Company's Board of Directors declared quarterly cash dividend of $0.17 per share. The dividend will be payable on February 22, 2017, to shareholders of record as of February 07, 2017.

Stock Performance

At the closing bell, on Thursday, February 02, 2017, the stock closed the trading session at $14.93, slightly declining 0.33% from its previous closing price of $14.98. A total volume of 3.67 million shares have exchanged hands. New York Community Bancorp's stock price advanced 6.43% in the last three months, 5.69% in the past six months, and 1.92% in the previous twelve months. The stock currently has a market cap of $7.27 billion and has a dividend yield of 4.55%.

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SOURCE: Active Wall Street