Tuesday's loser among the largest banks was
, which saw its shares decline 5% to close at $48.67, after the company reported first-quarter net income of $151 million, or 61 cents a share, missing the consensus earnings estimate of 65 cents a share. The company's first-quarter net interest margin declined to 1.32% from 1.44% a year earlier, although the margin was slightly higher than in the fourth quarter.
New York Community Bancorp
, was down nearly 5% to close at $16.30, after the company reported first-quarter net income of $123.2 million, or 28 cents a share, missing the 31-cent consensus estimate among analysts polled by
Investors were disappointed that earnings came in slightly lower than in the year-earlier period, and although the company's first-quarter return on average assets of 1.34% and 17.01% return on average tangible equity were relatively strong figures, the dividend payout ratio was a bit high, at 89%, based on the 25-cent quarterly payout. New York Community's dividend yield of 6.13%, based on Tuesday's market close, is the highest among the 24 components of the KBW Bank index.
Bank of New York Mellon
reported first-quarter net income from continuing operations of $670 million, or 50 cents a share,
missing the consensus estimate
of 57 cents a share. With strong capital ratios, CEO Robert Kelly pointed to coming increases to the company's dividend or share buybacks. Shares declined 3% to close at $28.35.
was down 2% to close at $8.39, after the company on Monday
reported earning 21 cents
a share in the first quarter.
Written by Philip van Doorn in Jupiter, Fla.
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