Here's Why New York Community Bank Stock Is Down 68% in the First Half of 2024
New York munity Bancorp(NYCB) The Motley Fool·2024-07-17 21:28
The regional bank is struggling with the fallout from risky acquisitions and a challenging commercial real estate market.Shares of New York Community Bank (NYCB 0.99%) dropped 68.6% in the first six months of the year, according to data provided by S&P Global Market Intelligence. The bank slashed its dividend in response to a host of issues, and macroeconomic conditions are fueling investor skepticism about its prospects.Slashing the dividend after struggling to manage acquisitionsNYCB had a rough first qua ...