New York Community Bancorp (NYCB) has been under a strong bear grip, hence the stock is down -2.81% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.44% in the past 1 week. The stock has risen by 1.41% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.44% in the past 4 weeks.
New York Community Bancorp Inc. has dropped 3.94% during the last 3-month period . Year-to-Date the stock performance stands at -8.6%. The stock has recorded a 20-day Moving Average of 0.63% and the 50-Day Moving Average is 1.15%.
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 $14.40 and $14.32 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.41, notching a gain of 0.28% for the day. The total traded volume was 4,450,958 . The stock had closed at $14.37 on the previous day.
Also, Equity Analysts at the Morgan Stanley maintains the rating on New York Community Bancorp (NYSE:NYCB). The brokerage firm has issued a Overweight rating on the shares. The Analysts at the ratings agency lowers the price target from $17.5 per share to $16.5 per share. The rating by the firm was issued on August 1, 2016.
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.