"Bank Stocks React to New York Community Bancorp's Dividend Cut and Office Loan Warnings"

New York Community Bancorp's stock experienced a significant drop, triggering the steepest decline in regional-bank stocks since the collapse of Silicon Valley Bank in March 2023. The bank's troubles began with a surprise loss and dividend cut, leading to a 37% one-day drop. Moody's has placed the bank's ratings on review for a downgrade due to weak earnings and capitalization. Analysts have downgraded the bank's stock and adjusted profit estimates, while the bank expects a drop in loans and an increase in deposits in 2024. The broader financial sector was impacted by the bank's decline, but some investors see the situation as an opportunity to buy larger banks.