Here's Why New York Community Bank Stock Is Down 68% in the First Half of 2024

Shares of New York Community Bank (NYCB 0.99%) dropped 68.6% in the first six months of the year, according to data provided by S&P Global Market Intelligence. The bank slashed its dividend in response to a host of issues, and macroeconomic conditions are fueling investor skepticism about its prospects. NYCB had a rough first quarter. The company acquired Flagstar Bank and Signature Bank in 2023 with the goal of opportunistically expanding options and extending into commercial lending. Those moves presented ...