2024-02-08 05:15:00 ET
New York Community Bancorp 's (NYSE: NYCB) stock price plummeted 38% following its earnings announcement on Jan. 31, the most significant decline by the stock ever. The bank reported an unexpected loss for the fourth quarter, catching investors off guard.
New York Community Bancorp took significant charge-offs relating to a couple of loans in its portfolio and is working to rebuild its capital following its acquisition of Flagstar Bancorp. The stock hit its lowest price since the regional banking crisis impacted banks last March. Here's what investors need to know.
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This Regional Bank Stock Plummeted 38% After Announcing Earnings: Here's What Investors Need to Know