NYCB - New York Community Bancorp Stock Is Diving Wednesday: What's Going On? | Benzinga
New York Community Bancorp Inc (NYSE:NYCB) shares are falling Wednesday after the company reported worse-than-expected financial results and reduced its quarterly dividend. Here’s what you need to know.
What To Know: New York Community Bancorp reported fourth-quarter revenue of $740 million, which missed the consensus estimate of $811.07 million, according to Benzinga Pro.
The bank holding company also reported an adjusted loss of 27 cents per share, which missed estimates for positive earnings of 28 cents per share.
President and CEO Thomas Cangemi noted that the company is adjusting to the demands of being a large bank after it was selected by the FDIC to purchase certain strategically and financially attractive assets and liabilities of Signature Bank following its collapse last year.
“The transaction also put us ...