New York Community Bancorp: Buy, Sell, or Hold?
New York Community Bancorp (NYSE: NYCB) has had quite a turbulent year, starting earlier this year when it took significant charge-offs on its loan portfolio, resulting in a surprising $2.7 billion fourth-quarter loss.
Since then, its CEO has stepped down and it has overhauled its executive leadership, raised equity capital, and sold off large chunks of its mortgage businesses. The bank is undergoing a multiyear process to rejuvenate its business. Here's an in-depth look at its game plan and whether it's a compelling investment opportunity today.
Over the past several years, banks' commercial real estate exposure has come under the microscope. Shifting workplace trends have significantly impacted office real estate values, and rising interest rates have made it more expensive to finance commercial real estate transactions.
Source Fool.com
