Wedbush upgraded New York Community Bancorp Inc. NYCB to +34.86% to outperform neutral. This is based on the expected earnings boost from its purchaseof Signature Bank’s loan and deposit portfolio. New York Community Bancorp is gaining 30% in premarket trades. Flagstar, a New York Community Bancorp unit, will manage Signature Bank’s 40 branches beginning Monday. Analyst David Chiaverini stated in a research paper that NYCB is a beneficiary of a sweetheart agreement because FDIC priced the assets to move fast. According to Chiaverini, New York Community Bancorp will see a 20% increase in earnings per share due to the Signature Bank deal. NYCB will surrender $300 million equity appreciation rights to FDIC in exchange for $2.7 billion discount on loans acquired and interest income from Signature Bank securities loans.