NY Community (NYCB) has shared an update.
New York Community Bancorp, Inc. has announced a 1-for-3 reverse stock split, consolidating every three shares of common stock into one and proportionally reducing authorized shares. Set to take effect on July 11, 2024, shareholders will not receive fractional shares but will be compensated with cash payments. This move also entails proportional adjustments to equity-based awards and certain preferred stock conversion ratios, while the company’s common and preferred stocks will continue trading on the NYSE under their current symbols, albeit with a new CUSIP number for the common stock.
Find detailed analytics on NYCB stock on TipRanks’ Stock Analysis page.
