New York Community Bancorp (NYCB) PT Lowered to $5 at Deutsche Bank, 'we have two main takeaways'

NYCB expands top team, says 'material weakness' will not hit 2023 results

(Reuters) -New York Community Bancorp on Friday named financial services veteran George Buchanan as its chief risk officer and said the material weakness in internal controls would not impact its financial results for 2023.

Buchanan has previously held roles at several lenders including US Bank and Regions Bank, NYCB said.

New York Community Bancorp (NYCB) Continues To Strengthen Management Team And Enhance Risk Framework

New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company") today announced the appointments of George F. Buchanan III as Executive Vice President and Chief Risk Officer and Colleen McCullum as Executive Vice President and Chief Audit Executive, effective immediately.

Executive Chairman, President and Chief Executive Officer, and the Company's largest individual shareholder, Sandro DiNello, stated,... More

New York Community Bancorp (NYCB) PT Lowered to $4 at DA Davidson

(Updated - March 1, 2024 12:02 PM EST)

DA Davidson analyst Peter Winter lowered the price target on New York Community Bancorp (NYSE: NYCB) to $4.00 (from $5.00) while maintaining a Neutral rating.

The analyst commented, "After the market close, NYCB issued 2 separate 8Ks. 1) Management identified... More

Midday movers: Dell, NetApp rise; Boeing falls

(Updated - March 1, 2024 11:09 AM EST)

Investing.com -- Main U.S. indexes edged higher Friday, starting the new month off on a positive note after strong gains in February.

Here are some of the biggest U.S. stock movers today:

Dell (NYSE: DELL) stock jumped 26% after the tech giant reported fourth-quarter results that topped Wall Street as solid demand for its artificial intelligence-optimized servers offset weakness in... More

NYCB shares slump after lender flags "material weakness" in internal controls

Investing.com -- 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

Wedbush 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

Piper Sandler Downgrades New York Community Bancorp (NYCB) to Neutral, 'Whack-a-Mole Continues'

(Updated - March 1, 2024 8:08 AM EST)

Piper Sandler analyst Mark Fitzgibbon downgraded New York Community Bancorp (NYSE: NYCB) from Overweight to Neutral with a price target of $5.00 (from $8.00).

The analyst comments "The whack-a-mole at New York Community continues. We had... More

New York Community Bancorp (NYCB) option implied volatility into a number of updates

New 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.

NYCB shares tumble 26% after 'material weakness' disclosure rattles investors

By 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

Investing.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

After-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

By 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.

New York Community Bancorp (NYCB) management identified material weaknesses in internal controls related to internal loan review

New 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

New 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