Should You Buy New York Community Bancorp While It's Below $13?

Last month, the Federal Reserve reduced its benchmark interest rate by 50 basis points. It was the Fed's first interest rate cut since the pandemic hit in 2020, and it's a welcome relief to some of the more interest rate-sensitive companies.New York Community Bancorp (NYSE: NYCB) is one bank welcoming those rate cuts. The bank has faced significant struggles this year, stemming from its huge write-offs in the fourth quarter last year followed by a big shakeup in its top management team.New York Community Bancorp recently traded at $10.95 per share and looks like a potential buy, as the Federal Reserve is projected to cut interest rates by 2% over the next couple of years. If you're thinking about scooping up shares of the bank, there are some things you should consider first.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool