Added to YB: 2024-03-08
Pitch date: 2024-03-07
NYCB [bearish]
Flagstar Bank, National Association
+1.61%
current return
Author Info
No bio for this author
Company Info
Flagstar Bank, National Association provides banking products and services in the United States. The company’s deposit products include interest-bearing checking and money market, savings, and non-interest-bearing accounts, as well as certificates of deposit.
Market Cap
$4.7B
Pitch Price
$11.43
Price Target
N/A
Dividend
0.35%
EV/EBITDA
N/A
P/E
313.73
EV/Sales
N/A
Sector
Banks
Category
turnaround
New York Community Bancorp's Recent Capital Raise and Market Skepticism
$NYCB recap: 1.25B shares + 300M $2.50 warrants, tangible book ~$6 if exercised. $18B NYC rent-control exposure concerning. Trading sardine at $3.50, expect bleed out. Mnuchin repeat of IndyMac play, but NYC rent rules obstacle. Pricey entry for bulls. I remain short.
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