New York Community Bancorp: The Preferred Stock Looks Like A Good Bet After Q4 Earnings [Seeking Alpha]
New York Community Bancorp, Inc. (NYCB)
Last new york community bancorp, inc. earnings: 4/29 07:00 am
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US:NYSE Investor Relations:
ir.mynycb.com
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Source: Seeking Alpha
The pedigree of the new board and management is impressive. Dilution for common shareholders is the main problem, but NYCB preferred stock offers no dilution, ~9x the dividend yield, seniority to common equity, and a healthy discount to par. Consider investing in NYCB preferred stock for a 9.3% dividend yield and a 31% discount to par. In February, I covered the chaos at New York Community Bancorp, Inc. NYSE: NYCB ) after key risk and audit executives resigned, the bank reported a Q4 loss, and Moody's downgraded its credit. Fortunately for NYCB, an investor group led by former US Treasury Secretary Steve Mnuchin stepped in with a $1 billion rescue package in March, giving the group roughly 40% control of the bank and a new CEO. Since then, the new management has begun a cleanup operation to diversify and return the bank to profitability. So far so good, as NYCB didn't deliver any further negative shocks in its Q1 earnings report . Additionally, on this week's Q1 earnings confer
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NYCB
News
- ‘Banks continue to become increasingly less relevant': the professor who sees a $2 trillion hole in the economy predicts a thinning of the herd [Yahoo! Finance]Yahoo! Finance
- ‘Banks continue to become increasingly less relevant': the professor who sees a $2 trillion hole in the economy predicts a thinning of the herd [Fortune]Fortune
- UPDATE 1-Starwood REIT taps credit line as it faces withdrawal requests [Yahoo! Finance]Yahoo! Finance
- New York Community Bancorp stock slides after $5B mortgage sale agreement [Seeking Alpha]Seeking Alpha
- NEW YORK COMMUNITY BANCORP, INC. AGREES TO SELL APPROXIMATELY $5 BILLION IN WAREHOUSE LOANS TO JPMORGAN CHASE BANK, N.A. [Yahoo! Finance]Yahoo! Finance
NYCB
Earnings
- 5/1/24 - Miss
NYCB
Sec Filings
- 5/16/24 - Form 8-K
- 5/16/24 - Form 144
- 5/15/24 - Form DEFA14A
- NYCB's page on the SEC website