New York Community Bancorp, Inc. - NYB

One of my favorite bank stocks is New York Community Bancorp, Inc., stock ticker NYB. With assets of $40.6 billion at June 30, 2011, NYB is the holding company for New York Community Bank, a New York State-chartered savings bank serving customers throughout Metro New York, New Jersey, Florida, Ohio, and Arizona; and New York Commercial Bank, a New York State-chartered commercial bank serving consumers and businesses in the New York City boroughs of Manhattan, Queens, and Brooklyn, and the counties of Nassau, Suffolk, and Westchester – all in New York.

NYB has paid a quarterly dividend of $0.25 per share since their 4:3 stock split on February 18th, 2004. Even during the Great Recession! CEO Joseph Ficalora is committed to the $0.25 quarterly dividend. NYB's pipeline remains optimistic for new bank loans. At $12.89 per share, as of close on Friday, NYB is a bargain! They pay a great, consistant dividend and are buying other banks, expanding their reach.    

Yes, bank stocks are still pretty risky and most have cut their dividend, but NYB has stayed strong. Who knows when the real bank recovery will begin? I would rather have a strong position in NYB now versus when it begins to fly! Now is the time to invest in solid companies which have been around for decades and healthy dividend payers. NYB may not be the best bank out there, however collecting a quarter ($0.25) per share each and every three months for the rest of your life sounds like an excellent deal.
I am very bullish on this stock. NYB is a great way to diversify your Roth IRA stock portfolio by including a great New York based community bank conglomerate. Click here to visit their website. Also, feel free to watch this recent, insightful interview with NYB's CEO Joseph Ficalora. Enjoy! Have a great day!