NYCB 0.00%↑ was founded in 1859 and has over $100 billion in assets.
The stock is down over 45% in the days following its most recent earnings release. An 8x increase in loan loss provisions and 70% dividend cut will do that.
Notwithstanding these developments, there are respected regional bank analysts who believe the baby was thrown out with the bath water here. If that’s the case, we’ll see that develop in the days/weeks ahead. Pictured above are the AVWAP from the drop date, along with the 5 day moving average. If/when price moves up above these levels, that will be my signal that the market has said enough, and that it’s time to look at time name for a bounce. This is one of a few names I’m currently watching closely for a trade on the long side.