Is It Too Late to Buy New York Community Bancorp Stock?
For most investors, New York Community Bancorp (NYSE: NYCB) is a stock that will be best avoided. The regional bank has had a rough year and that is reflected in the stock price, but it is well positioned for a turnaround, which may interest more aggressive investors. And since the stock trades some 70% below its 52-week highs, you aren't too late to buy it.
A bank stock that's fallen 70% from its 52-week high? That's a clear warning sign. Banks are generally supposed to be conservatively run financial institutions.
There are several reasons for the terrible stock performance. For starters, the bank cut its dividend ... twice. It is now paying just a token $0.01 per share per quarter. That's something companies do when they are in financial trouble but still want institutional-level investors with dividend mandates to stick around.
Source Fool.com
