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Turmoil At New York Community Bancorp: Shares Tumble Over 20%, Triggering Regional Bank Sector Sell-off

Turmoil At New York Community Bancorp: Shares Tumble Over 20%, Triggering Regional Bank Sector Sell-off

紐約社區銀行動盪:股價暴跌超過20%,引發地區銀行板塊拋售
Benzinga ·  03/01 11:07

New York Community Bancorp (NYSE:NYCB) finds itself in the eye of the storm once again.

紐約社區銀行(紐約證券交易所代碼:NYCB)再次陷入了風暴之眼。

On Thursday, the bank publicly acknowledged a "material weakness" in its internal controls concerning loan review processes. This admission was accompanied by a major leadership change at the top, highlighting a period of upheaval for the company.

週四,該銀行公開承認其貸款審查程序的內部控制存在 “重大缺陷”。在這一承認的同時,高層領導層發生了重大變動,凸顯了公司的動盪時期。

The bank cited "ineffective oversight, risk assessment, and monitoring activities" as the root of the issues and promised to outline a remediation plan in its forthcoming annual report to the U.S. Securities and Exchange Commission within the next 15 days.

該銀行將 “監督、風險評估和監控活動不力” 列爲問題的根源,並承諾在未來15天內向美國證券交易委員會提交的年度報告中概述補救計劃。

Thomas R. Cangemi, the former CEO, stepped down immediately after 27 years at the helm of the bank but will continue to serve on the board. The bank has appointed Alessandro DiNello as the new President and CEO and Marshall Lux as the Presiding Director of the Board.

前首席執行官托馬斯·坎格米在掌管該銀行27年後立即辭職,但將繼續在董事會任職。該銀行已任命亞歷山德羅·迪內洛爲新任總裁兼首席執行官,馬歇爾·勒克斯爲董事會主席董事。

Following these announcements, New York Community's shares plummeted by over 20% shortly after the market opened on Friday. The move dragged down the broader regional bank industry, with the SPDR Regional Banking ETF (NYSE:KRE) down over 3%.

繼這些公告之後,紐約社區的股價在週五開盤後不久就暴跌了20%以上。此舉拖累了整個地區銀行業,SPDR區域銀行ETF(紐約證券交易所代碼:KRE)下跌了3%以上。

Among the holdings in the KRE ETF, the table below shows the worst-performing regional bank stocks, excluding NYCB, at 10:00 a.m. ET on Friday.

在KRE ETF持有的股票中,下表顯示了美國東部時間週五上午10點表現最差的地區銀行股,不包括紐約央行。

Name 1-Day Chg %
Metropolitan Bank Holding Corp. (NASDAQ:MCB) -5.02%
Flushing Financial Corporation (NASDAQ:FFIC) -4.28%
Dime Community Bancshares Inc. (NASDAQ:DCOM) -4.27%
First Foundation Inc. (NYSE:FFWM) -4.16%
Valley National Bancorp (NASDAQ:VLY) -4.15%
Axos Financial, Inc. (NYSE:AX) -3.86%
M&T Bank Corporation (NYSE:MTB) -3.63%
Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) -3.60%
Columbia Banking System, Inc. (NASDAQ:COLB) -3.54%
Western Alliance Bancorporation (NYSE:WAL) -3.43%
姓名 1 天漲跌幅百分比
大都會銀行控股公司(納斯達克股票代碼:MCB) -5.02%
法拉盛金融公司(納斯達克股票代碼:FFIC) -4.28%
Dime Community Bancshares Inc.(納斯達克股票代碼:DCOM) -4.27%
第一基金會公司(紐約證券交易所代碼:FFWM) -4.16%
山谷國家銀行(納斯達克股票代碼:VLY) -4.15%
Axos Financial, Inc.(紐約證券交易所代碼:AX) -3.86%
M&T 銀行公司(紐約證券交易所代碼:MTB) -3.63%
平博金融合作夥伴有限公司(納斯達克股票代碼:PNFP) -3.60%
哥倫比亞銀行系統有限公司(納斯達克股票代碼:COLB) -3.54%
西方聯盟銀行(紐約證券交易所代碼:WAL) -3.43%

NYCB Tumbles: Analyst Reactions

NYCB 暴跌:分析師的反應

"Uncertainty is the enemy of bank stock investing. And, without a doubt, the situation feels a bit uncertain at NYCB right now," Piper Sandler analyst Mark Fitzgibbon, said. The analyst described the control weaknesses as the "most worrisome" issue, leading him to downgrade the stock from Overweight to Neutral. Piper Sandler expressed concern over potential further issues under the new leadership.

“不確定性是銀行股票投資的敵人。而且,毫無疑問,紐約央行目前的情況有些不確定。” 派珀·桑德勒分析師馬克·菲茨吉本說。這位分析師將控制缺陷描述爲 “最令人擔憂” 的問題,導致他將該股的評級從增持下調至中性。派珀·桑德勒對新領導層領導下可能出現的進一步問題表示擔憂。

JPMorgan maintained a Neutral rating on the stock, citing a risk profile that remains outside a "comfort zone."

摩根大通維持該股的中性評級,理由是風險狀況仍處於 “舒適區” 之外。

David J. Chiaverini, CFA from Wedbush, highlighted that the internal control review might necessitate additional reserves, especially for the company's exposure to NYC's rent-regulated multifamily sector. Consequently, Wedbush lowered its core EPS estimates for 2024/2025 from 80 cents/90 cent to 55 cents/65 cents and reduced the price target from $5 to $3.50.

來自Wedbush的首席財務官大衛·基亞韋里尼強調說,內部控制審查可能需要額外的儲備金,特別是該公司在紐約市租金監管的多戶住宅領域的敞口。因此,Wedbush將其2024/2025年的核心每股收益預期從80美分/90美分下調至55美分/65美分,並將目標股價從5美元下調至3.50美元。

NYCB Tumbles: Regional Bank Movers

NYCB 暴跌:地區銀行搬家者

The issues at NYCB have raised broader concerns about the banking sector's exposure to real estate loans, particularly to the office-related sector.

紐約銀行的問題引發了人們對銀行業房地產貸款敞口,尤其是辦公相關行業的房地產貸款敞口的更廣泛擔憂。

According to a recent Goldman Sachs analysis, NYCB's commercial real estate loans make up 56% of its total loan portfolio, significantly higher than the 18% average for the regional banks under their coverage.

根據高盛最近的一項分析,紐約商業銀行的商業房地產貸款佔其貸款組合總額的56%,大大高於其所涵蓋地區銀行18%的平均水平。

Other banks with a substantial commercial real estate exposure – above 20% of total loans – include First Hawaiian Inc. (NASDAQ:FHB), Synovus Financial Corp. (NYSE:SNV), United Bankshares Inc. (NASDAQ:UBSI), First Horizon Corporation (NYSE:FHN), and Citizens Financial Group, Inc. (NYSE:CFG).

其他擁有大量商業房地產敞口的銀行(佔貸款總額的20%以上)包括第一夏威夷公司(納斯達克股票代碼:FHB)、Synovus Financial Corp.(紐約證券交易所代碼:SNV)、聯合銀行股份有限公司(納斯達克股票代碼:UBSI)、第一地平線公司(紐約證券交易所代碼:FHN)和公民金融集團公司(紐約證券交易所代碼:CFG)。

Read now: Banking Giants Confront Rising Delinquencies In Commercial Real Estate Sector

立即閱讀:銀行業巨頭面臨商業房地產領域不斷上升的拖欠情況

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