Buying Buzz: New York Community Bancorp Inc. [NYCB] Director Rosenfeld Ronald A. purchases 35,000 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. New York Community Bancorp Inc. shares valued at $480,162 were purchased by Rosenfeld Ronald A. on Jun 10. At $13.72 per share, Rosenfeld Ronald A. acquired 35,000 shares. The insider’s holdings grew to 30,000 shares worth approximately $0.31 million following the completion of this transaction.


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Also, Rosenfeld Ronald A. purchased 20,000 shares, netting a total of over 247,000 in proceeds. Following the buying of shares at $12.35 each, the insider now holds 139,786 shares.

Analysts at B. Riley Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid June. As of June 03, 2022, Keefe Bruyette has decreased its “an Outperform” rating to a “Mkt perform” for NYCB. Earlier on May 03, 2022, Stephens downgraded its rating. Their new recommendation was “an Underweight” for NYCB stock which previously was a “an Equal-weight”.

Analyzing NYCB’s Price Performance

On Thursday, New York Community Bancorp Inc. [NYSE: NYCB] rose 0.10% to $10.32. The stock’s lowest price that day was $10.30, but it reached a high of $10.43 in the same session. During the last five days, there has been a drop of approximately -2.64%. Over the course of the year, New York Community Bancorp Inc. shares have dropped approximately -15.48%. Shares of the company reached a 52-week high of $13.56 on 01/13/22 and a 52-week low of $8.50 on 06/17/22. A 50-day SMA is recorded $9.49, while a 200-day SMA reached $11.01. Nevertheless, trading volume fell to 4.22 million shares from 6.88 million shares the previous day.

Support And Resistance Levels for New York Community Bancorp Inc. (NYCB)

According to the 24-hour chart, there is a support level at 10.27, which, if violated, would cause prices to drop to 10.22. In the upper region, resistance lies at 10.40. The next price resistance is at 10.48. RSI (Relative Strength Index) is 63.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 29.73%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is New York Community Bancorp Inc. subject to short interest?

Stocks of New York Community Bancorp Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.35 million shares to 47.12 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 48.47 million shares. A decline of -2.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.82 of the overall float, the days-to-cover ratio (short ratio) decline to 7.82.

Which companies own the most shares of New York Community Bancorp Inc. (NYCB)?

According to BlackRock Fund Advisors filings, the company currently owns 47,422,454 shares, which is about 10.15% of the total NYCB shares outstanding. The investor’s shares have appreciated by 1,182,139 from its previous 13-F filing of 46240315.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $378,958,673. Dimensional Fund Advisors LP acquire a 6.12% interest valued at $181.49 million while SSgA Funds Management, Inc. purchased a 243,633 stake. A total of -1,735,750 shares of New York Community Bancorp Inc. were bought by Geode Capital Management LLC during the quarter, and 407,884 were bought by Peter B. Cannell & Co., Inc. In its current portfolio, Renaissance Technologies LLC holds 5,284,225 shares valued at $48.24 million.

In terms of New York Community Bancorp Inc. share price expectations, FactSet research, analysts set an average price target of $11.23 in the next 12 months, up nearly 1.84% from the previous closing price of $10.31. Analysts anticipate New York Community Bancorp Inc. stock to reach $16.00 by 2022, with the lowest price target being $9.00. In spite of this, 14 analysts ranked New York Community Bancorp Inc. stock as an Overweight at the end of 2022. On February 05, 2021, UBS assigned a price target of “a Neutral” to the stock and downgraded coverage with a $11.

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