Piper Sandler Downgrades New York Community Bancorp (NYCB) to Neutral, 'Whack-a-Mole Continues'
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NYCB shares slump after lender flags "material weakness" in internal controls
March 1, 2024 7:41 AM ESTInvesting.com --Â Shares in New York Community Bancorp (NYSE: NYCB) tumbled in premarket U.S. trading on Friday after the embattled regional lender said it had found "material weaknesses" in company controls related to an internal loan review.
In a... More
New York Community Bancorp (NYCB) PT Lowered to $3.50 at Wedbush
March 1, 2024 7:28 AM ESTWedbush analyst David J. Chiaverini lowered the price target on New York Community Bancorp (NYSE: NYCB) to $3.50 (from $5.00) while maintaining a Underperform rating.... More
New York Community Bancorp (NYCB) option implied volatility into a number of updates
March 1, 2024 5:53 AM ESTNew York Community Bancorp (NYSE: NYCB) 30-day option implied volatility is at 73; compared to its 52-week range of 20 to 233 into the bank last night issued a number of updates.
... MoreNYCB shares tumble 26% after 'material weakness' disclosure rattles investors
March 1, 2024 5:43 AM ESTBy Niket Nishant and Nupur Anand
(Reuters) -New York Community Bancorp shares plunged nearly 26% on Friday after it replaced its CEO, reported a fourth-quarter loss that was more than 10 times what it previously stated and said it found "material weaknesses" in internal controls related to a loan review.
The news spooked already jittery investors, with NYCB shares down 65% this year.
"NYCB looks like a bank that is out of control, and it seems likely that they will have to take even steeper charges for loan loss provisions," said Octavio Marenzi, CEO of advisory and consulting firm Opimas LLC.... More
New York Community Bank flags 'material weakness' in internal controls; CEO exits
February 29, 2024 5:03 PM ESTInvesting.com -- New York Community Bancorp fell in afterhours trading Thursday after chief executive Thomas R. Cangemi resigned and the regional bank said it identified "material weakness" in its internal controls relating to its loan review process, according to a regulatory filing on Thursday with the Securities and... More
After-hours movers: B. Riley, NYCB fall; Dell, NetApp rise
February 29, 2024 4:57 PM ESTAfter-Hours Stock Movers:
Dell Technologies (NYSE: DELL) gained 17% after the tech infrastructure company issued EPS and revenue that beat estimates.
SoundHound AI (NASDAQ: SOUN) fell 11% after the voice AI developer issued disappointing results and... More
NY Community Bank replaces CEO as loss mounts to $2.7 billion; shares tumble
February 29, 2024 4:51 PM ESTBy Tatiana Bautzer, Nupur Anand and Shivansh Tiwary
(Reuters) - New York Community Bancorp replaced its CEO, reported a fourth-quarter loss that was more than 10 times what it previously stated and disclosed faults in its financial reporting in filings on Thursday that sent its shares tumbling.
The bank named Alessandro DiNello, executive chairman of its board, to the additional roles of president and CEO. He succeeded Thomas Cangemi, who the bank said had resigned from those roles on Feb. 23 but will remain on the company's board, according to a regulatory filing. Marshall Lux was appointed presiding director.
... MoreNew York Community Bancorp (NYCB) management identified material weaknesses in internal controls related to internal loan review
February 29, 2024 4:29 PM ESTNew York Community Bancorp (NYSE: NYCB) disclosed:
New York Community Bancorp, Inc. (the Company, NYCB, we or our) has determined that it is unable to file, without unreasonable effort or expense, its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the 2023 Form 10-K) by the prescribed due date for the reasons described below.
On January 31, 2024, NYCB filed a Current Report on Form 8-K furnishing under Items 2.02 and 9.01 the Companys press release announcing its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023 (the Original Filing). The full text of the... More
New York Community Bancorp (NYCB) Appoints Alessandro (Sandro) DiNello as CEO
February 29, 2024 4:06 PM ESTNew York Community Bancorp, Inc. (NYSE: NYCB) ("NYCB" or the "Company") today announced the appointment of Alessandro (Sandro) DiNello, Executive Chairman of the Board, as President and Chief Executive Officer, effective immediately. Mr. DiNello succeeds Thomas R. Cangemi, who has stepped down as President and Chief... More
