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New York Community Bancorp (NYCB) Is Today's Water-Logged And Getting Wetter Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified New York Community Bancorp ( NYCB) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified New York Community Bancorp as such a stock due to the following factors:

  • NYCB has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $35.1 million.
  • NYCB has traded 896,033 shares today.
  • NYCB traded in a range 793.3% of the normal price range with a price range of $1.96.
  • NYCB traded below its daily resistance level (quality: 307 days, meaning that the stock is crossing a resistance level set by the last 307 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on NYCB:

New York Community Bancorp, Inc. operates as a multi-bank holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in New York, New Jersey, Florida, Ohio, and Arizona. The stock currently has a dividend yield of 6.1%. NYCB has a PE ratio of 15.1. Currently there are 2 analysts that rate New York Community Bancorp a buy, 3 analysts rate it a sell, and 9 rate it a hold.

The average volume for New York Community Bancorp has been 2.7 million shares per day over the past 30 days. New York Community has a market cap of $7.1 billion and is part of the financial sector and banking industry. The stock has a beta of 1.04 and a short float of 9.8% with 16.72 days to cover. Shares are down 5.9% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates New York Community Bancorp as a buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • The gross profit margin for NEW YORK CMNTY BANCORP INC is currently very high, coming in at 72.14%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 25.57% significantly outperformed against the industry average.
  • Net operating cash flow has increased to $47.30 million or 23.78% when compared to the same quarter last year. Despite an increase in cash flow of 23.78%, NEW YORK CMNTY BANCORP INC is still growing at a significantly lower rate than the industry average of 323.12%.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, regardless of the company's weak earnings results. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • The revenue fell significantly faster than the industry average of 29.8%. Since the same quarter one year prior, revenues slightly dropped by 6.9%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.

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