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DA Davidson Downgrades New York Community Bancorp (NYCB) to Neutral, 'Given the Risk of Deposit Outflows'

February 8, 2024 6:13 AM EST

DA Davidson analyst Peter Winter downgraded New York Community Bancorp (NYSE: NYCB) from Buy to Neutral with a price target of $5.00 (from $8.50).

The analyst comments "Despite issuing a positive update Tuesday night, whereby total deposits increased ~$1.5B to $83B through 2/5 vs. 12/31/23 and total... More