The Wall Street firm said this bank is positioned well for a lower interest rate environment.
New York Community Bancorp shares are "too cheap" and can jump 50% from here, according to UBS. Analyst Brody Preston assumed coverage of the stock with a buy rating, saying it's positioned well for a lower interest rate environment because of its deposit mix and fee income. The stock was rated neutral previously.
mountain NY Community Bancorp shares 5-day NY Community Bancorp shares are down more than 24% this year. They fell more than 12% and 14% this and last week, respectively, as bank stocks got pummeled in the wake of the Silicon Valley Bank failure. Regardless, the analyst's $10 price target, lowered from $10.50 previously, assumes shares can run on for another 54% from Tuesday's close. NY Community Bancorp shares are down 1% in Wednesday premarket trading.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
APX Group Acquires 50 Percent Stake In UK’s Twickenham Film StudiosAmerican-European Media Fund APX Group has completed the acquisition of a 50% stake in the UK’s Twickenham Film Studios. The 120-year-old facility in South West London has hosted a slew of cl…
Read more »
ECB plans to hike by 50 bps despite SVB collapse – MNICiting eurosystem sources, MNI reported on Monday that the European Central Bank was planning to go ahead with the 50 basis points (bps) rate hike at
Read more »
This Curvy Electric Hovercraft Glides Over the Water Like a Supercar—at up to 50 MPHThe VonMercier Arosa is fast, quiet, electric, and looks like a Ferrari crusing over the water's surface.
Read more »
FBI Returns Museum Artifacts Stolen Over 50 Years AgoDuring a ceremony on Monday, the FBI returned stolen artifacts recovered through a cold case investigation to sixteen different museums and historical societies.
Read more »
Weather Authority: 50 mph wind gusts move in Tuesday ahead of seasonable stretchMeteorologist Kathy Orr has the latest forecast.
Read more »
Neighbors returning home after 50-hour Valinda standoff are just getting over the terrifying shockNeighbors recall terrifying scene where 47-year-old Brandon Ursa began firing at pedestrians, starting a standoff for 50 hours with deputies.
Read more »