"NYCB Stock Plummets 26% Amid Leadership Changes and Internal Controls Issue"
New York Community Bank's shares plummeted 26% in February due to a poor quarterly earnings report, credit rating downgrade, significant dividend reduction, and accounting issues. The bank faces macroeconomic challenges such as increased expenses from Federal Reserve interest rate hikes and weak loan demand, as well as company-specific problems stemming from its heavy exposure to commercial real estate loans. The stock's forward dividend yield is just over 5%, but concerns persist about ongoing losses or asset write-offs, making it a risky investment.
