New York Community Bancorp Plunges 7% on Weak Q2 Results, Mortgage Business Sale-To The Moon - Tiger Brokers Online Investing Community - To The Moon

Like
Comment
Favorite

New York Community Bancorp Plunges 7% on Weak Q2 Results, Mortgage Business Sale

Stock Track07-25

New York Community Bancorp, the parent company of Flagstar Bank, saw its stock plunge over 7% in pre-market trading on Thursday, following the release of its disappointing second-quarter financial results and the announcement of the sale of its residential mortgage servicing business.

The bank reported a non-GAAP loss per share of $1.05 for the second quarter, missing analysts' estimates by a significant $0.62. Additionally, revenue for the quarter came in at $671 million, falling short of expectations by $52.87 million, or nearly 8%.

In a separate announcement, NYCB's subsidiary, Flagstar Bank, revealed plans to sell its residential mortgage servicing business, including mortgage servicing rights and the third-party origination platform, to Mr. Cooper for approximately $1.4 billion. While the transaction is expected to add around 60 basis points to NYCB's CET1 capital ratio, the divestiture of a major business segment could be seen as a negative by investors, at least in the short term.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Like

Report

Comment

empty

No comments yet

Most Discussed

7x24

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1149334046?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-07-25 19:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1149334046","market":"us","top_or_hot":-1,"title":"New York Community Bancorp Plunges 7% on Weak Q2 Results, Mortgage Business Sale","media":"Stock Track","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/NYCB\">New York Community Bancorp</a>, the parent company of Flagstar Bank, saw its stock plunge over 7% in pre-market trading on Thursday, following the release of its disappointing second-quarter financial results and the announcement of the sale of its residential mortgage servicing business.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/988ff92f82bd95adbd17847f9a3dc43b\" tg-width=\"768\" tg-height=\"622\"/></p><p>The bank reported a non-GAAP loss per share of $1.05 for the second quarter, missing analysts&#39; estimates by a significant $0.62. Additionally, revenue for the quarter came in at $671 million, falling short of expectations by $52.87 million, or nearly 8%.</p><p>In a separate announcement, NYCB&#39;s subsidiary, Flagstar Bank, revealed plans to sell its residential mortgage servicing business, including mortgage servicing rights and the third-party origination platform, to Mr. Cooper for approximately $1.4 billion. While the transaction is expected to add around 60 basis points to NYCB&#39;s CET1 capital ratio, the divestiture of a major business segment could be seen as a negative by investors, at least in the short term.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>New York Community Bancorp Plunges 7% on Weak Q2 Results, Mortgage Business Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNew York Community Bancorp Plunges 7% on Weak Q2 Results, Mortgage Business Sale\n</h2>\n\n<h4 class=\"meta\">\n\n2024-07-25 19:15 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York Community Bancorp, the parent company of Flagstar Bank, saw its stock plunge over 7% in pre-market trading on Thursday, following the release of its disappointing second-quarter financial ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"","article_id":"1149334046","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1149334046","pubTimestamp":1721906159,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"New York Community Bancorp , the parent company of Flagstar Bank, saw its stock plunge over 9% in pre-market trading on Wednesday, following the release of its disappointing second-quarter financial results and the announcement of the sale of its residential mortgage servicing business.The bank reported a non-GAAP loss per share of $1.05 for the second quarter, missing analysts' estimates by a significant $0.62. Additionally, revenue for the quarter came in at $671 million, falling short of expe","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"纽约社区银行因第二季度业绩疲软和抵押贷款业务出售而暴跌7%","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NYCB":1},"content_text":"New York Community Bancorp, the parent company of Flagstar Bank, saw its stock plunge over 7% in pre-market trading on Thursday, following the release of its disappointing second-quarter financial results and the announcement of the sale of its residential mortgage servicing business.The bank reported a non-GAAP loss per share of $1.05 for the second quarter, missing analysts' estimates by a significant $0.62. Additionally, revenue for the quarter came in at $671 million, falling short of expectations by $52.87 million, or nearly 8%.In a separate announcement, NYCB's subsidiary, Flagstar Bank, revealed plans to sell its residential mortgage servicing business, including mortgage servicing rights and the third-party origination platform, to Mr. Cooper for approximately $1.4 billion. While the transaction is expected to add around 60 basis points to NYCB's CET1 capital ratio, the divestiture of a major business segment could be seen as a negative by investors, at least in the short term.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}