NYCB Weighs on Banks. Morgan Stanley Rates 4 a Buy.

Glimmer of Hope for New York Community Bancorp as Stock Rises 17%

Investors regained confidence in New York Community Bancorp (NYCB) on Friday as the beleaguered bank saw its stock rise 17% on strong trading volume. This comes after a turbulent week that saw the stock plummet by 18% and an alarming 50% decrease since January 31. However, reassurance seems to have been found in insider stock purchases and the chairman’s pledge to build a “fortress” balance sheet.