Added to YB: 2024-03-08
Pitch date: 2024-03-07
NYCB [bearish]
Flagstar Bank, National Association
-12.35%
current return
Author Info
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Company Info
Flagstar Bank, National Association operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States.
Market Cap
$4.9B
Pitch Price
$11.45
Price Target
N/A
Dividend
0.34%
EV/EBITDA
N/A
P/E
-11.31
EV/Sales
N/A
Sector
Banks
Category
turnaround
Show full summary:
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.
Read full article (1 min)