"NYCB CEO and Board's Stock Purchase Sparks Rally After $4 Billion Rout"

New York Community Bancorp's stock soared after its CEO and other insiders purchased over 200,000 shares following a significant drop in value due to a dividend cut and larger loan-loss provisions. The purchases, totaling about $870,000, signal renewed commitment and confidence in the bank. The company's market value has declined by about $4 billion since the announcement, but the insider buying has provided a positive development for investors. Additionally, call options equivalent to more than 550,000 shares were snapped up shortly after the insider purchases, indicating increased interest in the bank's stock.