I recently bought this stock at $12.99. 2K shares. I bought because I heard rumblings they would be selling off their mortgage business in short order.
Obviously, this has not happened and the stock continues to make lower lows and lower highs. The chart isn't pretty. If they were to sell of the mortgage end of this will the stock move higher...? My feeling was if they sell then I'm left with a decent bank without the mortgage exposure.
The only bank I own now is NYB...which I have had for five years...no subprime exposure.