"NYCB Stock Plunge Continues Amid Rent Stabilized Apartment Concerns"

TL;DR Summary
New York Community Bancorp's stock sank for a second day, prompting at least five Wall Street analysts to lower their recommendations and Moody’s Investors Service to review the bank’s credit rating for a downgrade. The company's surprise dividend cut, fourth-quarter loss, and provision build sparked broader concerns over issues facing the commercial real estate market and the exposure that smaller lenders have to the space, leading to a renewed rout in regional banks. The stock tumbled as much as 15% on Thursday, hitting its lowest level since 2000, and regional bank peers also followed the firm lower.
Topics:business#commercial-real-estate#dividend-cut#finance#moodys-investors-service#nycb#regional-banks
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- NY Community Stock Tumbles. Are Rent Stabilized Apartments to Blame? Barron's
- U.S. regional banking shares tumble for second straight day CNBC
- New York Community Bancorp’s stock rebounds on bullish outlook for net interest income MarketWatch
- US bank stocks sink after New York Community Bancorp cuts dividend Reuters.com
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