The head of New York Community Bancorp (NYB) blames short-sellers — not its performance — for the nearly 5% slide in its shares Wednesday.

The $44 billion-asset company lost more than $300 million in market capitalization within 90 minutes of markets opening after it reported a sharper-than-expected margin contraction in the third quarter.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.