Thank you Jim. I totally agree that NYB has righted its wrong and will be on the upside from here on in. I do not see any downside to this bank and I can't understand why some posters just keep looking for ways to slam this bank no matter HOW good they do!
There will be no buyout of this bank....not as long as Joe is running the show.
I guess I can answer that question for you...
First, no one prefer's a devaluation in the stock. Current div is propable what's keeping this stock at 16ish these days. If a div cut occured, it would more than likely push these shares downward, though it would help to the comany to build tangible equity a lot more quickly making the company a candidate for a sale.
Second, most people here, including myself, believe the company will slowly right itself without touching the dividend...which is paying us to wait. It also keeps the idea of a takeover as a distinct possibility given NYB's solid loan portfolio of multi family homes, on top of the fact that a bank looking to purchase NYB could save a bundle of cash by doing away with the NYB div after a purchase....which hopefully would be a premium to today's prices.
Third, I'll take a dividend at this rate over interest from savings or a cd any day. Preferential tax treatment to dividends make your real rate of return quite a bit higher than that on interest.
Well, that's about it in a nutshell. I wish everyone here the best of luck.
Perhaps I appear somewhat nieve-and I know a lot of wise guys will remark-- but why would you prefer a devaluation of the stock to "preserve" the dividend?= Why dont you invest in a cd or some such instrument, where your "dividend" is secure?
There will be NO buyout of this bank. It will not be necessary since earnings will rise steadily and eventually surpass $35 a share. How do I know this? The same way I knew the divy was to stay at .25 and the same way I told you all that Fic will bring this bank back & above to where it once was!
I repeat. As I stated 1/24...there will be NO buyout of this bank. Earnings will rise steadily and eventually surpass $35 a share. I know this the same way I knew the divy was to stay at .25 and I am NOT guessing!
Fic will bring this bank back & above to where it once was.
I like your attitude but have seen this happen many times before.NYB will be wanted as an asset by much larger banks.(Especially after cleaning up it's balance sheet)SOV may be the one!!
Anyway NYB looks to have their problems under control.Growing earnings is the key.Interest rates must come down to help reverse the inverted curve.Good luck and GO NYB!!!!