How can you pay that dividend - with only a penny to spare per share; Too big, too soon. I agree with fact that as soon as they are BIG- more Federal Banking Regs. Dump it and take the $$$$$.
AS soon as dividend is cut, BOOM, there goes the price!
Sentiment: Strong Sell
Too far too fast on just Wall Street games keeps buying at any price. Not fundamentals at all just greed as usual. Blame this forever rash and you will with this one. They have no fundamentals just greed. Isay sell everything to play it safe period. Far outweighs the massive down side here.
How can there be such a huge short position? That really, really looks to be a bad bet looking at the chart and the dividend payout.
Shares of New Community Bancorp continue to pace higher....with the recent upside share price breakouts...it's quite conceivable these shares are heading for $18.50 to $22.50 within the next 12-18-months---and with the dividend well covered....a nice stodgy vehicle suddenly has gotten a fresh new coat off success paint!
Comments/questions are most welcome!
This bank never took any TARP money...and it's not about to have to be told to cut any dividends-since 2003 it's made good money each year-through 2 very tough recessions/depression(s) etc. So fear not...I think we are hearing from a disgruntled poster who sold his/her shares when times looked more iffy! EOM-
I think the raising of the rates widens the interest gap thus increasing margins for regional banks.
NYCB has making loaning all along
And fwiw, NYCB rallied all the way through a decline in 10yr yields in July through Sept.
The reason for the 10yr yield going higher was the jobs report. Any indication that the job market is improving will cause a rally in financials. That's because a better economy means more loan demand, more business for banks.
NYCB CEO has said the hoped for acquisition will be accretive.. Also that the additional staff required are already in place.... That it will be a large bank I suspect the value will go up a couple of dollars and they have always protected the dividends as they are very large shareholders and long term officers of their bank
They can if it becomes a 'too big to fail' bank, but it's not clear if they would. Apparently they've signalled a preference to keep distributions under 30% of earnings for those institutions.