New York Community Rises On Unusually High Volume (NYCB)
New York Community Bancorp (NYSE:NYCB) is trading at unusually high volume Thursday with six million shares changing hands. It is currently at 2.1 times its average daily volume and trading up 29 cents (+2.2%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- New York Community Bancorp (NYSE: NYCB) is trading at unusually high volume Thursday with six million shares changing hands. It is currently at 2.1 times its average daily volume and trading up 29 cents (+2.2%) at $13.35 as of 4 p.m. ET.
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New York Community has a market cap of $5.79 billion and is part of the financial sector and banking industry. Shares are up 0.9% year to date as of the close of trading on Wednesday. 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 services in New York, New Jersey, Ohio, Florida, and Arizona. The company has a P/E ratio of 11.7, below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates New York Community as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, expanding profit margins, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full New York Community Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.