I have taken small position in this stock simple because I ve seen to many new branches poping up all over long Island N.Y. Not to mention I thougth the divident was not to bad. Why so many people dislike this stock. Keep in mind I'm new to this investing thing.
Yes, dividend is okay, but my initial investment of 1,000 shares is down over 4K. The only I have, except to lose money by selling, is to see if this piece of crap gets bought out by a bigger bank. No guarantee then of making money.
Just be careful there are much better stocks to invest in that BANK stocks. IMO.
Probably a good move. Years ago Peter Lynch, one of the geatests investors of all time hit a "4 bagger" (REALLY BIG GAIN) when he noticed that more and more women walking to work in Manhatten were wearing sneakers instead of heels. He bought NIKE etc. and the rest is history.
Plot the 5 year chart and you'll see why longer term investors are down on this stock. IMO, this is a good time to start building a large position. There is more upside potential than down especially with a dividend yielding over 5 percent.