Shares of New York Community Bancorp (NYCB) Sees Large Outflow of Money

New York Community Bancorp (NYCB) : The total money flow in New York Community Bancorp (NYCB) was negative ($3.73 million), which signals selling by the traders on Tuesdays session. They trimmed their holdings by selling the stock on downticks to the tune of $11.52 million. In comparison, the inflow of money into the stock on upticks was $7.79 million. The uptick to downtick ratio was 0.68. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $5.34 million. The value of transactions on uptick was $0.93 million. The negative money flow of ($4.4 million) confirms the selling in New York Community Bancorp (NYCB) on strength. The uptick to downtick ratio of block trades was 0.17. New York Community Bancorp (NYCB) gained $0.28 at $15.06, a gain of 1.89% over the previous days close. However, the stock registered 3.22% in the week.


Also, Morgan Stanley maintains its rating on New York Community Bancorp (NYSE:NYCB). The global brokerage major lowers the current price target from $17.5 per share to $16.5 per share. Analysts at the Morgan Stanley have a current rating of Overweight on the shares. The rating by the firm was issued on August 1, 2016.

Shares of New York Community Bancorp Inc. rose by 5.09% in the last five trading days and 5.61% for the last 4 weeks. New York Community Bancorp Inc. has dropped 3.37% during the last 3-month period . Year-to-Date the stock performance stands at -4.48%.

New York Community Bancorp (NYSE:NYCB): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.79 and $14.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.06, notching a gain of 1.89% for the day. The total traded volume was 3,939,374 . The stock had closed at $14.78 on the previous day.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of New York Community Bancorp Inc, Ciampa Dominick, had purchased 10,000 shares in a transaction dated on May 4, 2016. The transaction was executed at $14.48 per share with total amount equaling $144,800.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.