Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. New York Community Bancorp Inc. shares valued at $45,863 were sold by Davis Reginald E on Feb 07. At $9.97 per share, Davis Reginald E sold 4,600 shares. The insider’s holdings dropped to 123,033 shares worth approximately $1.28 million following the completion of this transaction.
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Also, Rosenfeld Ronald A. purchased 30,800 shares, netting a total of over 756,756 in proceeds. Following the buying of shares at $24.57 each, the insider now holds 30,800 shares.
Before that, Lux Marshall had added 5,000 shares to its account. In a trade valued at $50,275, the Director bought New York Community Bancorp Inc. shares for $10.05 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $0.18 million.
Analyzing NYCB Stock Performance
On Thursday, New York Community Bancorp Inc. [NYSE: NYCB] plunged -1.80% to $10.37. The stock’s lowest price that day was $10.30, but it reached a high of $10.60 in the same session. During the last five days, there has been a drop of approximately -5.73%. Over the course of the year, New York Community Bancorp Inc. shares have jumped approximately 20.58%. Shares of the company reached a 52-week high of $11.21 on 05/17/23 and a 52-week low of $5.81 on 03/13/23. A 50-day SMA is recorded $9.41, while a 200-day SMA reached $9.27. Nevertheless, trading volume fell to 9.75 million shares from 9.4 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 10.25, which, if violated, would cause prices to drop to 10.12. In the upper region, resistance lies at 10.55. The next price resistance is at 10.72. RSI (Relative Strength Index) is 54.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.12, which suggests the price will decrease in the coming days. Percent R is at 56.38%, indicating low 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 rise in short interest on May 14, 2023 jumping by 2.35 million shares to 43.11 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 40.76 million shares. A jump of 5.45% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.53.
Which companies own the most shares of New York Community Bancorp Inc. (NYCB)?
According to BlackRock Fund Advisors filings, the company currently owns 75,043,728 shares, which is about 10.99% of the total NYCB shares outstanding. The investor’s shares have appreciated by 6,451,685 from its previous 13-F filing of 68592043.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $706,479,555. SSgA Funds Management, Inc. acquire a 61.42% interest valued at $377.87 million while Dimensional Fund Advisors LP sold a -1,134,563 stake. A total of 11,784,784 shares of New York Community Bancorp Inc. were sold by Wellington Management Co. LLP during the quarter, and -1,562,561 were sold by Citadel Advisors LLC. In its current portfolio, Geode Capital Management LLC holds 9,577,580 shares valued at $102.38 million.
In terms of New York Community Bancorp Inc. share price expectations, FactSet research, analysts set an average price target of $11.87 in the next 12 months, up nearly 13.64% from the previous closing price of $10.56. Analysts anticipate New York Community Bancorp Inc. stock to reach $13.00 by 2023, with the lowest price target being $10.00. In spite of this, 18 analysts ranked New York Community Bancorp Inc. stock as an Overweight at the end of 2023.