New York Community Bancorp (NYSE: NYCB) managed to take the 2023 bank run scare in relative stride. In fact, it even bought parts of Signature Bank, one of the banks that ended up going out of business. But New York Community Bancorp ran into problems as 2024 got underway, with the stock now down around […]
Tag: Bancorp
Where Will New York Community Bancorp Be in 1 Year?
Share prices of New York Community Bancorp (NYSE: NYCB) have plunged roughly 75% from their 52-week highs. Most of the pain has come in the last three months following a terrible fourth-quarter 2023 earnings update. It appears likely that the bank will muddle through its current headwinds thanks to a little outside help. But how […]
Embattled New York Community Bancorp gets $1 billion cash infusion, adds Steven Mnuchin to its board
NEW YORK (AP) — Embattled New York Community Bancorp announced a lifeline of more than $1 billion from a group of investors on Wednesday, after seeing its stock plunge by more than 80% so far this year. The deal will bring four new directors to the bank’s board, including Steven Mnuchin, the former U.S. Treasury […]
New York Community Bancorp plunges on abrupt departure of CEO and emerging internal controls issues
Shares of New York Community Bancorp are plunging at the opening bell Friday after the abrupt departure of the longtime CEO of the bank, which has now delayed mandatory financial disclosures with regulators after finding “material weakness” tied to loans. New York Community Bancorp, which grew massively overnight last year after absorbing the failed Signature […]
New York Community Bancorp Stock Tumbles 54% — Is A Regional Banking Storm Brewing?
Shares of New York Community Bancorp Inc. (NYSE:NYCB) have plummeted by over 54% so far this year as the bank struggles to manage its assets during the latest wave of the regional banking crisis. The bank reported a total loss of $252 million in the fourth quarter of 2023 and slashed dividends by roughly 71% […]
New York Community Bancorp tries to reassure investors, but its stock falls again
NEW YORK (AP) — Shares of New York Community Bancorp fell another 11% Wednesday after the bank’s credit rating got downgraded to “junk” and investors worried that regional lender could suffer the same fate Silicon Valley Bank did last year. NYCB’s shares have been in a steep decline since last week, after the bank reported […]
Why New York Community Bancorp Stock Plummeted Today
Not for the first time this young year, troubled lender New York Community Bancorp (NYSE: NYCB) had a lousy day on the stock market Tuesday. The company’s shares lost 22% of their value, plunging to a more than 25-year low. This was on a day when the S&P 500 index landed in positive territory, creeping […]
New York Community Bancorp is sued by shareholders as stock tumbles
By Jonathan Stempel NEW YORK (Reuters) -New York Community Bancorp was sued on Tuesday by shareholders in a proposed class action after the lender posted unexpected commercial real estate loan losses and slashed its dividend, causing its stock price to fall by more than half. In a complaint filed in Brooklyn federal court, shareholders said […]
New York Community Bancorp stock value set to halve as slump extends
(Reuters) – Shares of New York Community Bancorp plummeted another 11% on Tuesday, stretching a sell-off since the lender reported a surprise quarterly loss last week that puts the stock on track to shed more than half of its value at the current levels. The sell-off since Wednesday has dragged down shares of peers on […]
Why New York Community Bancorp Stock Collapsed in January
Shares of little-followed financial stock New York Community Bancorp (NYSE: NYCB) collapsed 36.8% in January, according to data from S&P Global Market Intelligence. Investors are getting nervous about the bank. New York Community Bancorp bought the failed Signature Bank’s assets last Spring after it cut its dividend and wrote down some more of its loans. […]
New York Community Bancorp keeps dividend on preferred stock unchanged
(Reuters) -New York Community Bancorp kept the quarterly dividend for its preferred stock unchanged on Monday, days after it slashed the payout for its common shares by 70%. The bank said it would pay dividend of $15.94 per preferred share, same as its prior quarters. Preferred shareholders are typically entitled to more favorable dividend compared […]
Moody’s puts New York Community Bancorp on review for potential ‘junk’ downgrade
(Reuters) -Ratings agency Moody’s said on Wednesday it had placed New York Community Bancorp on review for a downgrade, which could put the bank into the “junk” territory. The credit ratings agency placed all long-term and short-term ratings and assessments of NYCB and its subsidiary, Flagstar Bank, including the baa2 baseline credit assessment, on review […]