NYCB Stock Alert: New York Community Bancorp Announces Reverse Stock Split

Group 1 - New York Community Bancorp has received shareholder approval for a reverse stock split, which the board of directors has now also approved [1][5] - The reverse stock split will be on a one-for-three basis and is expected to take place in mid-to-late July [3][6] - Following the announcement, NYCB shares fell by 1.1% on Thursday and have decreased by 70.9% since the beginning of the year [2][6] Group 2 - The reverse stock split aims to increase the price of NYCB shares without changing its market capitalization, potentially stabilizing the stock after a poor earnings report in January 2024 [6] - Trading volume for NYCB stock was low on Thursday, with only about 3.3 million shares traded compared to the daily average of 16.9 million shares [7]