Hold Rating Maintained for New York Community Bancorp Amid EPS Challenges and Credit Risk Concerns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 27 2024
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Source: Business Insider
Analyst Ratings: Bank of America Securities analyst Ebrahim Poonawala has maintained a Hold rating on New York Community Bancorp (NYCB) with a price target of $12.00, citing disappointing third-quarter results and negative revisions to earnings forecasts for FY25 and FY26 due to increased expenses and net interest income challenges.
Company Overview: NY Community Bancorp specializes in multi-family loans for rent-regulated buildings and has shown some improvements in capital and liquidity; however, concerns remain regarding non-accrual loans and the management's ability to meet future financial targets amidst a competitive environment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
