New York Community Bancorp has been grappling with serious financial issues, as reflected by a sequence of events affecting its stability and stock value. The bank declared a quarterly dividend of $15.94 for certain preferred shares. In a concerning development, Chief Risk Officer Nicholas Munson departed weeks before the bank disclosed a significant loss. Under pressure from a top US watchdog, the bank decided to cut its dividend and stockpile cash. The bank's stock has suffered, dropping 15.56% to $4.56 and approaching 27-year lows following discussions with regulators. The decline continued as Fed Chair Powell mentioned 'challenged' areas in the banking sector. New York Community Bancorp faces a proposed shareholder class action lawsuit due to recent disclosures and the stock's decline. The stock has lost nearly 60% in one week, with investors buying downside protection and shorting the stock. Moody's downgraded the bank's long-term issuer rating to Ba2 and labeled it 'junk', highlighting that 33% of deposits are uninsured.
New York Community Bancorp Cut To 'Junk' By Moody's: 33% Of Deposits Uninsured https://t.co/vL1s8Nx5mH
Moody's Downgrades New York Community Bancorp's Long-Term Issuer Rating To Ba2; Most Ratings Remain On Review For Further Downgrade https://t.co/J2vzEPHpZv
New York Community Bank Has Lost More Than Half of Its Value in Just 5 Trading Days 😳 https://t.co/avBiKF2P56
New York Community Bancorp’s plunging stock price highlights risks that loom over lenders large and small. https://t.co/txe2230xpZ
$NYCB is down nearly 60% in a week. People have been aggresively buying downside protection as well as, since two days ago, shorting it to hell. Look at how high put premiums have exploded last three days. All active chains, ask side puts. https://t.co/X3sT3vDVyd
$NYCB ❖ New York Community Bancorp Sued in Proposed Shareholder Class Action Over Recent Disclosures, Stock Price Decline - Court Filing Via Street Insider
$NYCB -15% ❖ YELLEN ASKED ON NY COMMUNITY BANCORP, DECLINES SPECIFIC COMMENT
New York Community Bancorp stock resumes its slide as Fed’s Powell cites ‘challenged’ areas in the banking system https://t.co/U711TSNv9W
My puts at $6.80 now up 250% New York Community Bancorp (NYCB) 4.56 -0.84 (-15.56%) #BankingCrisis
New York Community Bancorp Collapse Nears 27-Year-Lows After 'Talks With Regulator' Revealed https://t.co/Hp56gc4HKm
FYI: Global hedge funds remain short, ready for more US banking turmoil. U.S. regional bank stocks is $KRX -8% New York Community Bancorp $NYCB #banks #HedgeFunds https://t.co/fhyRqcSoZO
Mounting pressure from a top US watchdog led to New York Community Bancorp’s surprise decision to slash its dividend and stockpile cash, sources say https://t.co/AhTnJ1P2mR via @business
Mounting pressure from a top US watchdog led to New York Community Bancorp’s surprise decision to slash its dividend and stockpile cash, sources say https://t.co/3egTVgW33v
NEW YORK COMMUNITY BANCORP’S CHIEF RISK OFFICER NICHOLAS MUNSON LEFT WEEKS BEFORE BIG LOSS - FT $NYCB
NEW YORK COMMUNITY BANCORP’S CHIEF RISK OFFICER NICHOLAS MUNSON LEFT WEEKS BEFORE BIG LOSS - FT
⚠️ NEW YORK COMMUNITY BANCORP TO PAY DIVIDEND OF $15.94 FOR CERTAIN PREFERRED STOCK (Reuters) New York Community Bancorp said on Monday it would pay a quarterly dividend of $15.94 each for some of its preferred shares..... For more on this story, check out PiQ Suite