Barclays upgrades NYCB to overweight

Barclays upgrades New York Community Bank (NYCB) to Overweight from Equal Weight, expecting better times ahead for the stock. Julie Hyman and Josh Lipton check in on the stock on Market Domination.

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This post was written by Naomi Buchanan.

Video Transcript

And Barclays upgrading New York Community Bank from equal weight to overweight the note, citing the bank completing the heavy lifting around credit evaluation here.

Um And the analyst here, Jared Shaw saying that it's added multiple new leaders including a CEO CFO and Chief Risk Officer raised capital.

Um So the it is just sort of on a better footing than it was previously.

We talked about the same a lot earlier this year and of course, your stock got nailed after the flagged real estate risk investors got spooked and we, you know, a few months later we had changes in in the C suite there.

Uh The stock has been under real pressure.

I mean, it's still down about 60% this year most on the street on the sidelines.

They have a hold that Barclays clearly a believer improving fundamentals better times ahead.

Yeah, the stock is still what down 63% this year.

Yes, it is.