BUZZ-NYCB to begin trading on NYSE after reverse stock split

Reuters
2024.07.12 13:21
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New York Community Bancorp (NYCB) has implemented a 1-for-3 reverse stock split, making its stock price more attractive to investors. The stock is set to begin trading on the NYSE on a reverse split-adjusted basis. This move comes after NYCB reported a surprise quarterly loss and reduced its dividend in January. The reverse stock split was ratified by NYCB shareholders last month.

New York Community Bancorp (NYCB.N) says its 1-for-3 reverse stock split was effective after markets closed on Thursday

Stock set to begin trading on NYSE on a reverse split-adjusted basis when markets open on Friday

Trading in the stock was halted after markets closed

NYCB shares have lost more than two-thirds of their value after the regional lender reported a surprise quarterly loss and slashed its dividend in January due to commercial real estate stresses

NYCB shareholders ratified the reverse stock split last month

The split could make the stock price “more attractive to a broader group of institutional and retail investors,” NYCB said in a regulatory filing in June

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