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New York Community Bank: This 5.8% Yielder's Catalyst Has Arrived

Published Mon, 21 May 2018 05:00:00 -0400 on Seeking Alpha

2017 was not a fun year for holders of New York Community Bank (NYCB). Your author started buying at the end of January last year. NYCB stock was already sliding, following the inability to close the proposed merger agreement for Astoria Financial (NYSE: AF). At the time, it seemed NYCB should recover quickly enough with the rest of the banking sector surging following Trump's election victory. Instead, the bank now finds itself at levels below where it was prior to November 8th, 2016:
NYCB data by YCharts
Even including the generous dividend from NYCB, it's disappointing being down on my cost basis here, since virtually every other US bank I own is up 30%+ since the election. Ironically, that election result is probably why the bank is so beaten down now - the New York Community Bank/Astoria deal likely would have closed if Hillary had won and bank valuations hadn't spiked unexpectedly. And NYCB's shareholders have abandoned the company in droves since the Astoria deal broke.
Regardless, the past is the past. Some NYCB shareholders still seem obsessed with it, though. Read an article about the bank, and you'll hear numerous folks calling for removing the current management team due to the stock's recent underperformance and dividend cut associated with the proposed Astoria merger. I see this as the wrong move. New York Community Bank's CEO Joseph R. Ficalora has been in charge since January 1994. Here's how the stock has done over that... 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


Older articles featuring New York Comm Bancorp (NYCB):
New York Community Bancorp: A High-Yield Value Trap
New York Community Bancorp: Multiple Margin Headwinds, Overvaluation, Dividends At Risk
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