Right! Yet the stock off by 46 cents even before the x date. Not making sense,guess we must
be missing something.
Sentiment: Strong Buy
What makes you think that it will go lower.
I think the odds are with us buying in the 16.10 to 16.20 range. Take away the coming divi and we are buying sub 16. I am new to this company but it does seem like a good investment at these levels.
New to this company - actually looking at banks on this dip for a long term hold. Like this one because of the divi as I hold it long term expecting financials to lead the next leg up in the market. One thing that does scare me a little long term is that a lot of their income comes from mortgages. Does anyone know if the majority of their mortgages are at fixed rates(as they rise). I like that a lot of the mortgages are for apartments in NYC. Should be very low loss ratio.
Why wpuld anyone listen to a Penny stock rag when NYCB is not a penny stock .
Why the price dip in the last week......
6% div, earning exceeding estimates, strong bank!!!!
I added at $16.16....seems ridicules not too add!
Any weakness in the stock price just creates an income buying opportunity. See only growth for NYC
and those banks that operated there.
Sentiment: Strong Buy
Terrible to have this dollar a share SAFE dividend every year and watch the stock go up only 45% Guess we will just have to tough out smart brilliant management from the BOD
I don't know whether the borrowed funds issue is the cause of today's weakness. However, Joe F has spoken several times about his desire to make an acquisition that will put NYCB over the $50b threshold & be accretive to earnings. He's been quizzed by analysts about the regulatory implications of such an action on NYCB's dividend level (which I'm sure he wants to maintain). He contended that there shouldn't be an impact (not the same as there won't be).
In my view, the fact that there hasn't been an acquisition recently suggests to Wall St that there may be a regulatory issue at work. Otherwise, the benefits of replacing borrowed funds with deposits would have prompted a buy-out by now. Perhaps that's contributing to the weakness in the stock, despite its good earnings this quarter. (Personally, I think AF would be a great fit; but it may not be for sale ).
That was a good report. NYCB is not a residential mortgage story but a multi-family loan story. Small apartment buildings, etc. The market for these is booming in NYC in the outer boroughs. And this business will only get better as interest rates rise.
The company also affirmed that it would continue its $0.25 quarterly dividend, which would mark the 40th consecutive quarter in a row it issued a dividend
u r right but getting all the nuances of the deal correct so as not to crush the stock is like tap dancing on i pie crust stretched over the mouth of a volcano
This earnings report highlights the huge drag that the cost of borrowed funds is having on NYCB's NIM & EPS. They are paying 2.66% for $15 billion in borrowed funds, while paying less than 0.4% on their $22 billion in deposits!
NYCB may reach the $50 billion asset threshold by the end of this year organically (they are at $46.7 billion currently). It surely looks like now is the time for NYCB to acquire a deposit-rich franchise. If they are going to have to adhere to the $50 billion+ rules anyway, they will be far better off getting there through a strategic purchase rather than by simply backing into it.