New York Community (NYB) Shares Rise Following KBW Upgrade to Outperform

Shares of New York Community Bancorp (NYSE: NYB) spiked into positive territory just before heading into the afternoon trading session following a mid-day upgrade from Keefe Bruyette's Matt Clark.

The analyst now rates NYB shares an Outperform, up from Market Perform previously. Clark maintains a $15 price target on New York Community shares.

The KBW analyst argues NYB shares are trading "as if a dividend cut is a given..." Clark sees "many reasons to believe the dividend can be maintained."

With shares of New York Community last trading up 0.2 percent to $12.91, KBW's target represents potential upside of about 16 percent.

For more ratings news on New York Community Bancorp click here and for the rating history of New York Community Bancorp click here.

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