NYCB posts bigger loss than expected on exposure to office real estate
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Wedbush Reiterates Neutral Rating on New York Community Bancorp (NYCB)
July 26, 2024 5:47 AM EDTWedbush analyst David J. Chiaverini reiterated a Neutral rating and $10.50 price target on New York Community Bancorp (NYSE: NYCB).
The analyst comments "We're lowering our 2024/2025 core EPS estimates to -$2.25/+$0.05 from -$0.45/+$0.35, owing to lower NII and higher provision assumptions, along... More
New York Community Bancorp (NYCB) PT Lowered to $11.50 at JPMorgan
July 26, 2024 4:49 AM EDTJPMorgan analyst Steven Alexopoulos lowered the price target on New York Community Bancorp (NYSE: NYCB) to $11.50 (from $12.50) while maintaining a Neutral rating.
The analyst comments "With NYCB reporting a larger than expected 2Q24 EPS loss (tied to a larger reserve build and a shortfall on PTPP) coupled with the fairly meaningfully lowered baseline forecasts for 2024-2026 PTPP income (one quarter after the new management laid out the strategic targets last quarter), NYCB shares underperformed peers in response to the quarter (down 3% vs. peers up 2%). As New York Community has completed a... More
