New York Community Bancorp Q1 Profit Misses Estimates, Declares Dividend

(RTTNews) - New York Community Bancorp, Inc. (NYCB) reported first-quarter GAAP earnings of $129.9 million, or $0.27 per share compared to $119.3 million, or $0.27 per share, prior year. Included in the first-quarter amount were merger-related expenses of $1.2 million. Adjusted earnings per share was 0.27, for the quarter. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.

The company recorded net interest income of $327.9 million in the three months ended March 31, 2016, compared to $292.8 million in the three months ended March 31, 2015. Non-interest income totaled $35.2 million in the current first quarter, down $17.0 million year-over-year. Analysts expected revenue of $323.53 million for the quarter.

The Board of New York Community Bancorp declared a quarterly cash dividend of $0.17 per share. The dividend will be payable on May 17, 2016 to shareholders of record as of May 6.