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Home » New York Community Bancorp stock value set to halve, as Moody’s cuts ratings

New York Community Bancorp stock value set to halve, as Moody’s cuts ratings

New York Community Bancorp stock value set to halve, as Moody’s cuts ratings

In this articleNYCBFollow your favorite stocksCREATE FREE ACCOUNTA screen displays the trading information for New York Community Bancorp on the floor at the New York Stock Exchange on Jan. 31, 2024.Brendan Mcdermid | ReutersShares of New York Community Bancorp lost 22% on Tuesday, extending a sell-off since the lender reported a surprise quarterly loss last week, as Moody’s downgraded its long-term debt ratings to junk status.The stock closed at $4.20 and is on track shed more than half of its value at the current levels.The frenzied selling since Wednesday has also dragged down shares of peers on renewed fears about the health… 

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