Why can't we all just get along and enjoy the generous dividend that NYCB pays.
Yes I know, it has remained unchanged for years, but tell me which financial institution's "anchor ie dividend held " despite the great financial storm that was the recession of 2007-09, when many financial institutions trimmed their "dividend sails" or eliminated them altogether?
They also cant use BITCOIN Do you stay up at night working on these things You must have a pathetic life.. Go away
MadTrader666 = Moron, NYCB is not invested in Greece. They are heavily invested in rent controlled apartments in New York. So, quit grabbing headlines and spinning them against NYCB.
I have owned this stock for five years or more and all of it I acquired but selling puts and then the option ended below my strike price. Seams like every year I have been able to sell covered calls with a strike price of 17 equal to a couple of extra dividends. lately with the stock price moving up it's getting to where I could make money on a covered call @ 17. Then again should I hold off hoping the stock price goes higher getting a better price @ 17 or maybe selling a covered call @ 20 ? I would hate to sell one @ 17 and then see the stock price go to like 24 and miss out on all those gains. Over the last five years this has been a great stock for trading options on.
RIG is an accidentially high yielder..which is so high now I would be afraid on the dividend. Owned SDRL here for several years, but once it when into a downspin and the % yield kept getting higher..they finally dropped the dividend. NYCB is a good takeover target with strengths in several markets. Would love for someone to acquire it. Wish you luck with RIG.
Im curious what options plays you might reccomend, I was looking at them last night seems like very low premiums currently for near contract put and calls. im amazed at how low their loan losses have been through past 2 crisis, if you read most recent quarterly they outline the #s clearly. Why has nobody realized that ths is a compelling takeover target for companies like USB PNC the current top mid tiers. They already at sifi capital, it would make sense to acquire a business like NYCB as great deposit growth and expansion, prob one of the best targets ive seen. Huge short position on the stock, like 20% or some odd of float. I feel like this company ready to retest 20+ w/o aquisition premium. Currently highest yielding in my portfolio beside RIG.
You raise a good reason for us not to fall into the investor trap of complacency. I am hoping the Dodd-Frank rules can be changed to allow some wiggle room for prudently managed bank assets below 100 Billion.
There's an article on the motley fool called ' The Worst 3 Bank Stocks for the Next 10 Years ' it's a bit of a #$%$ take but there is a serious point to it. quote "The bank currently sits just under the threshold of $50 billion in total assets. It has purposefully stalled its growth in recent quarters to delay passing that number, because it's at that asset size that a bevy of increased regulatory requirements take effect. That means higher expenses, higher scrutiny, and, all else being equal, lower returns." - Despite this I am still long this stock.
I agree, I have owned this bank since the IPO and consider this one of my safe investment where I am getting a very good dividend. This is not a growth stock, but a steady eddy dividend paying stock..
Sentiment: Strong Buy
rollamo - I too am old 76, and enjoying it - I also ReInvest. I have been investing in NYCB since 6 -13, and by deducting dividends have a cost of $14.48 on 568 shares, so not much of a holding for me. I wish I had gotten invested in NYCB sooner, and I do continue to buy on dips.. Personally, if a stock does not pay at least 3% dividend - I don't invest in it. PEACE !
I always reinvest My IRA never goes down and I am required to take around $8000 a year(old guy).. My 6.6% is absolutely wonderful as it replenishes it self.. My basis is $12.25 I look for a merger or a sale this year in the low 20s
Whats nice about nycb is that its a fairly safe bank. It isn't run by Jamie Dimon, it isn't involved with manipulating the Libor, it doesn't keep stock piles of aluminum, it doesn't cheat on currency swaps, etc etc etc.. Its a bank that takes money from creditors, and lends it primarily for family real estate.
Its relatively safe.
7 times out of 10, when you chase a div yield, you are buying into a company that is deficient about something, and needs to pay out to attract money.
I see nycb the way all US banks that have FDIC deposits should work. Not taking any unnecessary risks that are usually done in order to make phony yields and humongous pay packages for a handful of people.
In addition, we are still a takeover target.
I bought more shares recently, and yes, while it is a stock, I don't fret about the money I have invested with them.