Published Sat, 18 Nov 2017 10:01:20 -0500 on Seeking Alpha
It's been a rather forgettable year for shareholders in New York Community Bancorp (NYSE: NYCB). While the rest of the financial sector has surged, NYCB stock has been left for dead. Here's the financial sector ETF (NYSEARCA: XLF) (red line) and the regional banks ETF (NYSEARCA: KRE) (yellow line) as opposed to NYCB in blue since the election last November.
I previously wrote about NYCB with my article The Sky Isn't Falling in May. Since then, the stock has been flat once you count dividends. Indeed the sky wasn't falling, but I'd been hoping for a rally. Instead, New York Community has continued to trail other regional and national banks. NYCB initially popped following Trump's victory - along with the sector - but it's been downhill since then.
That's all about to change though. New York Community has trailed the market due to a specific problem. That is that NYCB is on the threshold between being a regular bank and a systemically important bank. Following the financial crisis, regulators put in place a rule that causes banks with total assets of more than $50 billion to face greatly enhanced oversight.
The threshold is high enough that not many banks were caught right at the $50 billion figure. However, New York Community Bank has been stuck up against the limit for years now. This arbitrary limit has caused a great deal of trouble for the bank, since any additional growth would cause NYCB to trip the limit and see its... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|NEW YORK COMM BANCORP||13.14||17.1||0.77||0.68||5.31|
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