Is New York Community Bancorp Stock a Buy?
New York Community Bancorp (NYSE: NYCB) has faced turbulence this year as it deals with the fallout from taking significant charge-offs on its loan portfolio, which led to a surprising fourth-quarter loss. Since then, its CEO has stepped down as the bank overhauled its executive team and bolstered its financial position by raising equity capital and selling off large chunks of its loan portfolio.
New York Community Bancorp is undergoing a multiyear process to reinvigorate its business. Here's what investors need to know about its plan as they try to decide if it's a buy today.
Banks' commercial real estate exposure has been a hot topic over the past few years. Shifting workplace trends and the rise of remote work have changed companies' office space needs all over, but some U.S. markets are feeling the impact far more than others. On top of that, higher interest rates have made it more expensive to finance commercial properties, impacting both the value of those assets and the returns investors demand to view these investments as worthwhile.
Source Fool.com
