New York Community Bancorp is a large regional bank that is attempting to transform its business model.
Northwest Bancshares is a small bank in Pennsylvania that has been putting up some excellent returns as of late.
Dividend investing doesn’t always excite everyone, but it’s a great way to create a nice stream of passive income that can help you get rich slowly. It’s also helpful to have some nice dividend-yielding stocks during some of the market volatility we’ve been experiencing over the past few months. Here are two stocks that could earn you at least $1,000 in annual income if you invest $25,000. 1. New York Community Bancorp
New York Community Bancorp ( NYSE:NYCB ) is a large regional bank with nearly $60 billion in assets. The bank will probably get a lot bigger, as it intends to acquire the Michigan-based Flagstar Bancorp , which will propel the institution to roughly $87 billion of assets. New York Community Bancorp has been out of favor with investors for a while, with the stock down more than 23% over the last five years. Image source: Getty Images. But the bank appears to be getting its act together. At the start of 2021, New York Community Bancorp elevated Thomas Cangemi as its CEO, and Cangemi has been razor-focused on changing the bank’s model and remixing the balance sheet. New York Community Bancorp previously focused on using higher-cost funding sources and fixed-rate loans in the multi-family space. Now, the company is changing its model to focus on lower-cost and stickier deposits and a more diversified loan mix. There’s certainly execution risk, but trading at around 130% tangible book value (TBV), which is what a bank would be worth if it were liquidated, the valuation is certainly not crazy by any means.
I am a robot. This article is curated from another source (e.g. videos, images, articles, etc.). For the complete article please use the link provided to visit the original source or author. Content from other websites behaves in the exact same way as if the visitor has visited the other website.
Warning: The views and opinions expressed are those of the authors and do not necessarily reflect the official policy or position of MichelPaquin.com.