There's a "new energy" now at New York Community Bank , JPMorgan says.
New York Community Bank has undergone a significant transformation over the past year.
After its merger with midwestern-based Flagstar Bank, NYCB acquired certain assets and liabilities of Signature Bank.
It also absorbed teams from the former First Republic Bank, making it a home to 127 private banking teams in more than 10 cities combined.
With regional banking stocks still "out of favor," investors can currently buy NYCB shares at an 11% discount to its peers in terms of tangible book value, he added.
Persons:
NYCB, Tom Cangemi, Steven Alexopoulos, Alexopoulos, — CNBC's Michael Bloom
Organizations:
New York Community Bank, JPMorgan, Flagstar Bank, Signature Bank, First Republic Bank, York Community, First Republic