FLG: Flagstar Financial, Inc.

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First United (FUNC) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

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Citi analyst Benjamin Gerlinger believes Flagstar Financial (FLG) shares are likely to see downside pressure over the near-term following the Democratic primary results and Zohran Mamdani’s commanding lead in the ranked choice New York City governor primary. While concerns of a sweeping “freeze the rent” campaign promise potentially pulls forward incremental credit concerns, the actual fundamental impact to Flagstar is likely very minimal over the short- to medium-term, the analyst tells investo

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Following Zohran Mamdani’s victory in the New York City Democratic mayoral primary, Morgan Stanley said the likelihood of rent freezes on New York City rent regulated apartments has increased, which is a negative for Flagstar Financial (FLG). Flagstar has made significant improvements in the credit quality of its portfolio and has increased reserves more than four times since the last rent freeze in 2020, notes the analyst, who thinks a one year rent freeze is “manageable” for the bank. However,

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(Bloomberg) -- Shares of companies linked to New York City real estate fell Wednesday as Zohran Mamdani, a state Assembly member who has vowed to freeze rents, looks all but certain to become the Democratic nominee for mayor.Most Read from BloombergBezos Wedding Draws Protests, Soul-Searching Over Tourism in VeniceUS Renters Face Storm of Rising CostsUS State Budget Wounds Intensify From Trump, DOGE Policy ShiftsCommuters Are Caught in Johannesburg's Taxi Feuds as Transit LagsMapping the Archite

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(Bloomberg) -- Even Zohran Mamdani’s detractors recognize that the vibes are with the 33-year-old democratic socialist.Most Read from BloombergBezos Wedding Draws Protests, Soul-Searching Over Tourism in VeniceUS Renters Face Storm of Rising CostsUS State Budget Wounds Intensify From Trump, DOGE Policy ShiftsCommuters Are Caught in Johannesburg's Taxi Feuds as Transit LagsMapping the Architectural History of New York’s Chinatown“It’s officially hot commie summer,” hedge fund billionaire Dan Loeb

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Shares of several New York-based banks and real estate investment trusts fell on Wednesday as Zohran Mamdani's lead in New York City's Democratic mayoral primary stoked concerns that his proposed rent freeze could pressure building owners. On the campaign trail, Mamdani, a 33-year-old state lawmaker and self-described democratic socialist, vowed to lower costs for New Yorkers as a mayor by freezing the rent for all rent-stabilized apartments. Wall Street analysts have warned that the move could hurt building owners already grappling with higher costs, as constraints on their ability to raise rents might make it more difficult for some to repay their debt.