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Hudson City Bancorp, Inc. Message Board

  • professorsnape80 professorsnape80 Mar 15, 2010 4:19 PM Flag

    NYB or HCBK?

    Why does NYB get such positive commentary? Is it that much better than HCBK? Doesn't appear so based on the metrics.

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    • rosalieschwartz Mar 15, 2010 6:58 PM Flag

      lol great post.

      Ya I was about yo buy NYB the day before i bought HCBK. Then I went over both companies for 2 hours each and realized HCBK was vastly superior.

      NYB gained roughly 25% more assets by diluting shareholders 25%. HCBK gained 10% more assets by diluting shareholders 0%

      NYB trades at 2* tangible book value
      HCBK trades at 1.3 times

      NYB dividend is too big. There payout is more than their net income this sets off alarm bells in my head.

      NYB has very little growth since 2000 and right now they are going to have inorganice growth by the purchase of AM Trust

      Lastly HCBK is a vastly superior bank perfect credit rating NYB is BBB- and for this reason I feel safer here.

      Also HCBK is 35% down before the crash despite vastly increasing revenue and earnings. NYB is only down 16%

      So I am pissed I would be up 5% in 2 days had I bought NYB but theres no way I could rationalize buying it over HCBK.

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