NEW YORK (TheStreet) -- Shares of New York Community Bancorp (NYCB) - Get Report are down 2.93% to $14.27 late Wednesday morning after the company reported weaker-than-expected earnings for the 2016 second quarter.
Before today's opening bell, the Westbury, NY-based multi-bank holding company posted earnings of 26 cents per diluted share, lower than analysts' estimates of 28 cents per share.
Revenue for the period was $325.6 million, while analysts were projecting $323.8 million.
Additionally, the company's board of directors declared a quarterly cash dividend of 17 cents per share. The dividend will be payable on August 19 to shareholders of record as of August 8.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins and good cash flow from operations.
But the team also finds weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: NYCB