NYCB - New York Community Bank On Track To Rebound From Tuesday's 22% Slide: What's Going On | Benzinga
Shares of regional bank New York Community Bancorp, Inc. (NYSE:NYCB) rose in premarket trading on Wednesday.
The Slump: This marks a reversal from the 22% losses they experienced on Tuesday after a Bloomberg report said the Treasury Department’s Office of the Comptroller of the Currency may have forced the bank to announce a surprise dividend cut and set aside increased provisioning for the fourth quarter.
On Tuesday, the bank confirmed the departure of Chief Risk Officer Nicholas Munson after the Bloomberg report said the executive departed before the dividend cut and the raised fourth-quarter provisions. The report also flagged that Chief Audit Executive Meagan Belfinger quit around the same time.
To add fuel to the fire, Moody’s ...