Notable Price Action: New York Community Bancorp, Inc. Surges to Yearly Low, Is Now Worst Performer

Notable Price Action: New York Community Bancorp, Inc. Surges to Yearly Low, Is Now Worst Performer

The stock of New York Community Bancorp, Inc. (NYSE:NYCB) hit a new 52-week low and has $12.67 target or 8.00% below today’s $13.77 share price. The 8 months bearish chart indicates high risk for the $6.53 billion company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $12.67 price target is reached, the company will be worth $522.40M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.22M shares traded hands. New York Community Bancorp, Inc. (NYSE:NYCB) has declined 11.46% since April 1, 2016 and is downtrending. It has underperformed by 12.67% the S&P500.

New York Community Bancorp, Inc. (NYSE:NYCB) Ratings Coverage

Out of 9 analysts covering New York Community Bancorp Inc. (NYSE:NYCB), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. New York Community Bancorp Inc. has been the topic of 12 analyst reports since August 20, 2015 according to StockzIntelligence Inc. Standpoint Research upgraded New York Community Bancorp, Inc. (NYSE:NYCB) on Friday, October 30 to “Buy” rating. The company was upgraded on Monday, November 30 by Bank of America. The firm has “Mkt Perform” rating given on Friday, October 30 by Keefe Bruyette & Woods. The firm has “Outperform” rating by Raymond James given on Friday, October 30. FBR Capital upgraded the shares of NYCB in a report on Tuesday, January 19 to “Mkt Perform” rating. FBR Capital downgraded New York Community Bancorp, Inc. (NYSE:NYCB) on Friday, October 30 to “Underperform” rating. RBC Capital Markets maintained the shares of NYCB in a report on Thursday, January 28 with “Sector Perform” rating. The company was upgraded on Monday, November 2 by Sandler O’Neill. Sterne Agee CRT initiated New York Community Bancorp, Inc. (NYSE:NYCB) on Thursday, August 20 with “Neutral” rating. The firm has “Neutral” rating given on Friday, October 7 by Wedbush.

According to Zacks Investment Research, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank.”

Insitutional Activity: The institutional sentiment decreased to 1.08 in 2016 Q2. Its down 0.03, from 1.11 in 2016Q1. The ratio dived, as 41 funds sold all New York Community Bancorp, Inc. shares owned while 119 reduced positions. 36 funds bought stakes while 137 increased positions. They now own 294.08 million shares or 10.42% more from 266.32 million shares in 2016Q1.
Kahn Brothers Grp Inc Incorporated De has 2.55M shares for 0.01% of their US portfolio. owns 5.49 million shares or 0.02% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt has invested 0.03% of its portfolio in New York Community Bancorp, Inc. (NYSE:NYCB). Moreover, Commonwealth Equity Ser has 0.02% invested in New York Community Bancorp, Inc. (NYSE:NYCB) for 165,489 shares. Amer Insurance Tx accumulated 0.12% or 132,800 shares. Ladenburg Thalmann Fincl accumulated 104,706 shares or 0.03% of the stock. Rafferty Asset Management Limited Liability has 51,148 shares for 0.05% of their US portfolio. Bridgecreek Investment Mgmt Ltd Liability owns 14,250 shares or 0.07% of their US portfolio. Ruggie Group Incorporated has invested 0.02% of its portfolio in New York Community Bancorp, Inc. (NYSE:NYCB). The Massachusetts-based Winslow Evans Crocker has invested 0% in New York Community Bancorp, Inc. (NYSE:NYCB). Citigroup accumulated 345,817 shares or 0.01% of the stock. Geode Mngmt Ltd Com has 0.02% invested in the company for 3.02M shares. Eaton Vance Management holds 0% of its portfolio in New York Community Bancorp, Inc. (NYSE:NYCB) for 17,517 shares. Benjamin F Edwards & Communications has 0.03% invested in the company for 8,830 shares. Commonwealth Of Pennsylvania School Empls Retrmt reported 93,738 shares or 0.03% of all its holdings.

Insider Transactions: Since May 4, 2016, the stock had 1 buying transaction, and 0 selling transactions for $144,270 net activity. CIAMPA DOMINICK bought $144,270 worth of New York Community Bancorp, Inc. (NYSE:NYCB) on Thursday, September 8.

More recent New York Community Bancorp, Inc. (NYSE:NYCB) news were published by: Nasdaq.com which released: “New York Community Bancorp, Inc. (NYCB) Ex-Dividend Date Scheduled for …” on November 02, 2016. Also Businesswire.com published the news titled: “New York Community Bancorp, Inc. Discloses Its 2016 Dodd-Frank Act Company-Run …” on October 27, 2016. Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Synchrony Financial, First Commonwealth Financial and …” with publication date: November 01, 2016 was also an interesting one.

NYCB Company Profile

New York Community Bancorp, Inc., incorporated on July 16, 1993, is a multi-bank holding company. The Firm operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s activities are divided into two divisions: Banking Operations and Residential Mortgage Banking. The Banking Operations segment serves clients and businesses by offering and servicing a range of loan and deposit products and other financial services. The Residential Mortgage Banking segment originates, aggregates, sells and services one- to four-family mortgage loans. Mortgage loan products consist of agency-conforming fixed- and adjustable-rate loans and, to a lesser extent, jumbo loans, for the purpose of purchasing or refinancing one- to four-family homes. The Community Bank is a chartered savings bank with approximately 230 branches that operates through over seven local divisions. The Community Bank is a producer of multi-family loans in New York City. The Commercial Bank is a chartered commercial bank with approximately 30 branches in Manhattan, Queens, Brooklyn, Westchester County and Long Island, including approximately 20 that operate under the name, Atlantic Bank. The Commercial Bank offers around the clock banking online, mobile banking and banking by phone. The Firm also serves its clients through approximately three connected Websites: www.myNYCB.com, www.NewYorkCommercialBank.com and www.NYCBfamily.com.

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