New York Community Bank Drops in on Wednesday’s 52-Week Low Club

Print Email

July 27, 2016: Here are three stocks trading with relatively heavy volume among 17 equities making new 52-week lows in Wednesday’s session. NYSE decliners led advancers by about 5 to 4 and Nasdaq advancers led decliners by about the same margin.

New York Community Bancorp Inc. (NYSE: NYCB) dropped about 3.8% on Wednesday to post a new 52-week low of $14.14 against a 52-week high of $19.18. Volume of around 7.1 million was more than 50% above the daily average of around 4.3 million. The stock closed at $14.70 on Tuesday night. The bank missed expectations when it reported earnings this morning. This is the only stock that posted a new low Wednesday to trade more than 1 million shares.

BJ’s Restaurants Inc. (NASDAQ: BJRI) dropped about 10.2% on Wednesday to post a new 52-week low of $38.29 after closing at $42.63 on Tuesday. The stock’s 52-week high is $52.37. Volume was about 4 times the daily average of around 235,000 shares. Like so many other restaurant chains, BJ’s posted lower than expected results for the second quarter.

Cardiome Pharma Corp. (NASDAQ: CRME) lost about 0.3% Wednesday to post a new 52-week low of $3.00 versus a high of $10.40 after closing Tuesday at $3.01. Volume totaled about 650,000 shares, more than 5 times the daily average of 120,000 shares. The company priced a secondary offering of 10 million shares at $3 a share Tuesday morning and the stock got blasted yesterday.

I'm interested in the Newsletter