J.P. Morgan Maintains Neutral Rating On New York Community Bank

According to J.P. Morgan, New York Community Bank NYB Neutral rating is maintained. J.P. Morgan said that it recently met with NYB's CEO, Joseph Ficalora and CFO, Tom Cangemi. “Management indicated a commitment to maintaining the dividend and pointed to the bank working through the financial crisis with its dividend intact. Although the shares have been very weak in 2011, declining 17.5% YTD, were main Neutral given headwinds to core profitability as well as still sizeable premium.” New York Community Bank closed on Friday at $15.55.