NYCB Stock Recent News

New York Community Bancorp has agreed to pay its new Chief Executive Joseph Otting $1.25 million and a bonus off up to $4.5 million a year, as he takes the helm of the struggling lender, according to a filing.

New York Community Bancorp has dropped almost 50% since our last update. The bank disclosed a large goodwill write down, which was literal and metaphorical as investors lost faith in the company. Earnings for 2024 are expected to be poor, with potential losses and higher interest costs.

New York Community Bancorp said on Friday incoming CEO Joseph Otting will receive an annual base salary of $1.25 million and as of March 6 received a one-time option to acquire 15 million shares of the company's common stock.

New York Community Bancorp: Lessons From My Best And Worst Investment Ever

New York Community (NYCB) slashes the quarterly dividend by 80% to a penny to improve liquidity after witnessing a 5% drop in its deposits since the 2023 end through Mar 5, 2024.

New York Community Bancorp's turnaround will likely take a long time as analysts expect profits to remain under pressure from the lender's efforts to boost reserves for potential bad loans in its commercial real estate portfolio.

Morningstar DBRS downgraded the credit ratings of New York Community Bancorp to "BBB (low)" from "BBB", citing near-term pressure on earnings, the ratings agency said late on Thursday.

Moody's changes the direction of its NYCB rating review to a review for upgrade from a review for downgrade.

Following the significant losses experienced by New York Community Bank (NYSE: NYCB) stock last week, which resulted in a substantial decrease in its value, it appears that another bank could be facing a similar situation.

New York Community Bank's incoming CEO said Thursday he's planning to present a new business plan in late April after NYCB got a $1 billion lifeline from investors.