US regional banks fall after New York Community Bancorp's surprise loss

BankUnited

31/01/2024 15:47

** Shares of U.S. regional banks fall after New York
Community Bancorp  NYCB.N  swings to surprise loss and slashes
its dividend
    ** KBW Regional Banking index  .KRX  down 4%, on course for
biggest daily pct. decline since May if losses hold  
    ** Citizens Financial  CFG.N , Banc of California  BANC.N ,
Comerica  CMA.N , M&T Bank  MTB.N , Bank OZK  OZK.O , BankUnited
 BKU.N , Western Alliance Bancorp  WAL.N , and Valley National
Bancorp  VLY.O  fall between 2% and 8.1%
    ** The bank stocks are reacting to the poor outlook given by
the NYCB which has sparked concerns among the rest of the group
- Autonomous Research analyst David Smith
    

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))