New York Community Bancorp (NYCB) at $10.95 with potential value buy due to Fed rate cuts and recent improvements.
New York Community Bancorp (NYCB) is seen as a potential value buy at $10.95, especially with anticipated Federal Reserve rate cuts. The bank has faced challenges, including a $260 million loss and management changes. It holds a significant commercial real estate portfolio, which poses risks. However, recent improvements, including a $1 billion capital investment and a projected CET1 ratio above 11%, indicate a turnaround may be underway for patient investors.
October 13, 2024
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