Book value is still $2.00 over stock price. We go back over $10 next week. Buy and enjoy the divided as the fed leaves rates at zero.
Sentiment: Strong Buy
As I stated on my original post. If the div stays at .14 (and it will) we will trade above $9 and head towards $10. This is what's happening. Longs are being rewarded.
The first wave of selling was when they cut the dividend. Since then their has been continued pressure on the stock price in anticipation of another cut. If they continue to pay .14 per share monthly for the rest of this year, we will see the share price gradually go over $9 and head towards $10. If they cut we could be looking around $6. I'm long and hoping and predicting the div stays at .14. Good luck to all.
Before raising the div to ,18 they paid .135 per month. So they cut from .18 to .14 and the stock drops 40%. It's still a nice yield. They may have overdone it raising to .18. What if they went from .135 to .14 I'll bet the stock price would be going north. I'm in for the long term and been buying on dips. Keep those monthly div check coming.
Based on the recent dividend waiver request, we may see a .10 qtly div soon.
I'm buying and adding to my position. Why not dollar cost average down. The yield is still excellent. Stock will probably rebound next week and trade in the $10 - $10.50 range.