Where Will New York Community Bancorp Be in 1 Year?
Share prices of New York Community Bancorp (NYSE: NYCB) have plunged roughly 75% from their 52-week highs. Most of the pain has come in the last three months following a terrible fourth-quarter 2023 earnings update.
It appears likely that the bank will muddle through its current headwinds thanks to a little outside help. But how likely is it that NYCB will get back into fighting shape in the next year?
At the end of 2022, New York Community Bancorp bought another bank. Then there was a rash of bank runs at several regional banks in early 2023, which NYCB managed to sail through largely unscathed. In fact, it even bought assets from one of the banks that collapsed during a run, which some might have taken as a sign of New York Community Bancorp's strength.
Source Fool.com
