Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. New York Community Bancorp Inc. shares valued at $99,891 were purchased by Lux Marshall on Mar 21 ’24. At $3.69 per share, Lux Marshall acquired 27,100 shares. The insider’s holdings grew to 64,872 shares worth approximately $0.19 million following the completion of this transaction.
Also, Schoels Peter purchased 100,000 shares, netting a total of over 414,750 in proceeds. Following the buying of shares at $4.15 each, the insider now holds 147,438 shares.
Before that, DiNello Alessandro had added 50,000 shares to its account. In a trade valued at $209,480, the Executive Chairman bought New York Community Bancorp Inc. shares for $4.19 each. Upon closing the transaction, the insider’s holdings increased to 50,000 shares, worth approximately $0.34 million.
As published in a research note from Raymond James on March 18, 2024, New York Community Bancorp Inc. [NYCB] has been rated down from a Mkt perform to an Underperform and the price target has been revised to $3. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early March. As of March 01, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for NYCB. Earlier on February 08, 2024, DA Davidson downgraded its rating. Their new recommendation was “a Neutral” for NYCB stock which previously was a “a Buy”.
Analyzing NYCB Stock Performance
During the last five days, there has been a drop of approximately -8.92%. Over the course of the year, New York Community Bancorp Inc. shares have dropped approximately -71.07%. Shares of the company reached a 52-week high of $10.62 on 01/09/24 and a 52-week low of $1.70 on 03/06/24. A 50-day SMA is recorded $4.14, while a 200-day SMA reached $9.23. Nevertheless, trading volume fell to 34.76 million shares from 15.03 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 2.85, which, if violated, would cause prices to drop to 2.74. In the upper region, resistance lies at 3.11. The next price resistance is at 3.26. RSI (Relative Strength Index) is 35.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.11, which suggests the price will decrease in the coming days. Percent R is at 92.39%, indicating bearish 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 Mar 28, 2024 jumping by 30.01 million shares to 75.57 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 45.56 million shares. A jump of 39.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.43.
