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Fly News Breaks for July 12, 2019
NYCB
Jul 12, 2019 | 07:13 EDT
RBC Capital analyst Steven Duong initiated New York Community Bancorp with an Outperform rating and a price target of $12. The analyst states that the company's balance sheet composition bodes well for the falling interest rate environment expected over the next 12-24 months and also expects its "conservative" underwriting to "insulate" it from the impact of the new rent control laws in New York. Duong anticipates New York Community Bancorp's net interest margins to expand "meaningfully" in 2020.
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