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Fly News Breaks for October 26, 2018
NYCB
Oct 26, 2018 | 06:06 EDT
Piper Jaffray analyst Matthew Breese upgraded New York Community Bancorp to Neutral while lowering his price target for the shares to $9 from $10. Following the company's Q3 results, the analyst still has fundamental concerns with the outlook of the net interest margin given the bank's funding profile, in addition to the bank's capital position and dividend payout ratio. However, with the stock down 30% year-to-date and a "'safe-for-now dividend," the analyst is moving to the sidelines.
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