Barclays raised the firm’s price target on New York Community Bancorp to $10 from $4 and keeps an Equal Weight rating on the shares following the reverse stock split. The business transition is still under way, but weaker credit and balance sheet restructurings keep New York Community “on the defensive as profitability is shifted further out,” the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NYCB:
- New York Community Bancorp falls -16.1%
- NY Community Bancorp Unveils Investor Insight Presentation
- Flagstar Bank sells mortgage servicing business to Mr. Cooper for $1.4B
- NEW YORK COMMUNITY BANCORP, INC. REPORTS SECOND QUARTER 2024 GAAP NET LOSS AVAILABLE TO COMMON STOCKHOLDERS OF $1.14 PER DILUTED SHARE AND NON-GAAP NET LOSS AVAILABLE TO COMMON STOCKHOLDERS OF $1.05 PER DILUTED SHARE
- New York Community Bancorp reports Q2 adjusted EPS ($1.05), consensus (42c)