June 27 (Reuters) – New York Community Bancorp’s (NYCB.N), opens new tab one-for-three reverse stock split will become effective mid-to-late July, the regional lender said on Thursday.
The bank’s shares are down nearly 71% since the end of January, following a surprise quarterly loss due to commercial real estate stresses and a dividend cut.
An investment from a group that included former U.S. Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital stabilized the stock, but trading remains rangebound.
Source: REUTER
