Key TakeawaysNew York Community Bancorp. has said its board approved a proposal for a 1-for-3 reverse stock split set to come into effect during July.A reverse stock split is often performed in times of financial trouble and can improve the company's image, and its appeal to institutional investors and traders.NYCB stock has lost more than 70% of its value year-to-date. New York Community Bancorp, Inc. (NYCB) said it will go ahead with a 1-for-3 reverse stock split sometime mid-to-late July, after its board ...