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Earnings Preview: New York Community Bancorp (at Seeking Alpha)

Jul 22, 2008
Story Timeline:  77 days

by: theflyonthewall.com posted on: July 22, 2008 | about stocks: NYB New York Community Bancorp is expected to report Q2 earnings Wednesday, July 23 before market open, with a conference call scheduled for 9:30 am ET. Analyst Views At the beginning of this month, New York Community Bancorp registered to sell 17.78M of additional shares for $339.1M. The company also announced that it had lowered the interest rate on $4B of debt. New York Community Bancorp expects the stock offering and the reduction in borrowing costs to result in significant margin expansion, 12c to 14c of annual EPS accretion, and tangible book value accretion beginning in Q3. During the conference call, investors may be looking to hear more about the impact of these measures on the bank. Late last month, Citigroup downgraded the bank to Hold from Buy on... [read full story]                    

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