New York Community Bancorp (NYSE:NYCB) has tumbled 2.8% during the past week and has dropped 1.52% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.63%. New York Community Bancorp (NYSE:NYCB) has underperformed the index by 2.41% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
New York Community Bancorp (NYSE:NYCB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.82 and $14.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.01. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.95, notching a gain of 1.01% for the day. The total traded volume was 9,860,471 . The stock had closed at $14.80 on the previous day.
The company shares have dropped -18.84% from its 1 Year high price. On Oct 28, 2015, the shares registered one year high at $19.18 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $15.12 and the 200 Day Moving Average price is recorded at $15.54.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of New York Community Bancorp Inc, Ciampa Dominick had purchased shares worth of $144,800 in a transaction dated on May 4, 2016. A total of 10,000 shares were purchased at a price of $14.48 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, JP Morgan, maintains their rating on the shares of New York Community Bancorp (NYSE:NYCB). JP Morgan has a Underweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $15.5 per share from a prior target of $15. The rating by the firm was issued on April 5, 2016. Currently the company Insiders own 3.54% of New York Community Bancorp shares according to the proxy statements. Institutional Investors own 58.17% of New York Community Bancorp shares.
New York Community Bancorp, Inc. is a multi-bank holding company and has two primary subsidiaries: New York Community Bank (Community Bank) and New York Commercial Bank (Commercial Bank). The Community Bank is a New York State-chartered savings bank with 242 branches that operates through seven local divisions. The Community Bank is a producer of multi-family loans in New York City. In addition to multi-family loans, it originates commercial real estate loans (primarily in New York City, as well as Long Island and New Jersey) and, to a much lesser extent, acquisition, development, and construction (ADC) loans, and commercial and industrial (C&I) loans. The Commercial Bank is a New York State-chartered commercial bank with 30 branches in Manhattan, Queens, Brooklyn, Westchester County, and Long Island, including 18 that operate under the name Atlantic Bank. The Commercial Bank offers 24-hour banking online and by phone.