: New York Community Bancorp gets price target hike from Raymond James on bullish earnings view

New York Community Bancorp Inc. NYCB on Thursday drew a price target boost to $14 a share from $13 at Raymond James ahead of its next profit update on July 26. Raymond James analyst Steve Moss reiterated a strong buy rating on New York Community Bancorp and said he expects second-quarter results to include core deposit growth and expansion in net interest margin, “which should differentiate the bank from its peers.” He also expects New York Community Bancorp to report a stronger balance sheet due to capital generation and lower wholesale funding, after it acquired Signature Bank from the FDIC in March. New York Community Bancorp stock is down about 0.1% in premarket trades. The stock is up 30.3% in 2023, compared to a 15.8% increase by the S&P 500 SPX.

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