I don't see who would sell NYCB. Even at 16 its still yielding 6.25% with 9 and a half years of a steady yield and steady earnings. NYCB is a possible buyout at some point but I really don't mind just sitting back, not overthinking NYCB and collecting the dividend. There is no RUSH. I am not finding too many other banks with as high a yield (over 6%) and steady history of paying it out.
Maybe cuz people think it's too good to be true. Rents in Brooklyn are skyrocketing. That should trigger greater expansion in the "multi-family" market and more loan demand for NYCB. I bought this stock in the low 13s a few months ago, and I wish I'd bought more. At that time, I was a little worried about them covering that dividend. After their earnings, I'm not worried about it anymore.
I for one, need income . NYCB continued to maintain their dividend thruout the financial market recession period 2007-2009. Yes past performance is no indicator of current of future performance, but we baby boomers cannot rely on savings as one of the three legs of the "tripod" to provide the cash flow we need to generate to fund our retirement. Those cash flows have disappeared. Do you remember when banks paid 5-5.25% interest on savings and were federally insured?
Xells Bells, I DO and if I need to assume risk to enjoy the 5% that the banks previously paid on savings in "the good old days" I WANT TO BE PAID SOME PREMIUM FOR TAKING RISK. The NYCB dividend yield on its common stock meets that expectation.