New York Community Bancorp Stock to Benefit From Signature Bank Deal

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New York Community Bancorp

NYCB-NYSE

Outperform • Price $6.54 on March 17

by Wedbush

We’re upgrading NYCB from Neutral, owing to material earnings-per-share accretion of 20% from the Signature Bank deal. [On March 19], the FDIC announced that it had entered into a purchase agreement with Flagstar Bank, a subsidiary of NYCB, for a portion of Signature’s loan and deposit portfolio.