Blog Monkies Google Search!

Wednesday, April 11, 2007

Do you own this stock?

I've been looking at adding a financial stock to my "virtual" portfolio. I'm heavily weighted in gold and metals (such as copper), but I'm looking to add a little bank "flava". I think New York Community Bancorp (NYB) would be a wise choice. The stock recently took a dive down to 17.50 (at the time of publication), but it's still a solid play with its high dividend return of 5.6%! Almost all bank stocks pay out a hefty dividend. I love how companies pay YOU to own their stock. They do that usually because they can't grow much more so the only way to reward shareholders is to pay them cash to stay on board. I look for companies that regularly pay out a dividend and if that dividend continues to rise over time. I guess you could call me old fashioned. But if you look at NYB's price over time, their share price is half of what it was in 2004, but it's due for a nice rebound. Until next time, keep your eyes on New York Bancorp.

Disclaimer: I am not an investment professional. Please take what is said here as my opinion as should not be followed as truth. Please consult a financial professional BEFORE you decide to act on such matters.

No comments: