)'s stock were sitting on more than $42 million of losses on Wednesday after the lender's better-than-expected profit forecast for the next two years sent shares surging, data from Ortex show.
A strong performance by the NYCB stock, if sustained over the next few weeks, could help ease some of the pressure and encourage more long-term investors to return.Hicksville, New York-based NYCB said it was close to selling $5 billion of assets. Its earnings per share forecasts for 2025 and 2026 were also far above analysts' expectations, according to LSEG data.
NYCB said it currently trades at about 0.42 times its fully converted tangible book value, much lower than the 1.48 times multiple for banks with assets between $100 billion and $250 billion."While this year will be a transitional year for the company, we have a clear path to profitability over the following two years," Otting said.