Savings & Loans Industry Continues to Disappoint but Dividends Remain Strong
November 09 2011 - 8:16AM
Marketwired
The Savings & Loans industry continues to underperform the
broader market as many banks in the industry still work through bad
loan debts and uncertainty over the effects of new stricter lending
rules, leaving it difficult for these institutions to attract
investors. The Bedford Report examines the outlook for the Savings
and Loans Industry and provides equity research on Hudson City
Bancorp, Inc. (NASDAQ: HCBK) and New York Community Bancorp, Inc.
(NYSE: NYB). Access to the full company reports can be found at:
www.bedfordreport.com/HCBK
www.bedfordreport.com/NYB
Savings and Loans stocks struggled as the European crisis
deepened over the last two months. The concern is that a debt
default by Greece could severely harm European banks that hold
Greek debt. Although most domestic Savings & Loans institutions
do not have a lot of -- if any -- direct exposure to the debts of
European countries or banks, analysts warned that the European debt
crisis could push the US economy into recession, which would surely
hurt these banks.
With the Eurozone debt crisis showing signs of calming last
month, investors can once again focus on domestic operations at US
Savings & Loans banks.
The Bedford Report releases stock research on the savings and
loans industry so investors can stay ahead of the crowd and make
the best investment decisions to maximize their returns. Take a few
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Savings & Loans stocks haven't been completely abandoned by
investors. Many investors continue to turn to these equities due to
their sizeable dividend yields. With Several Savings and Loans
companies posting improved mortgage banking revenues in recent
quarters, dividend payments have remained relatively stable.
Hudson City Bancorp pays an annual dividend of 32 cents for a
hefty yield of around 5.6 percent. The company's third quarter 2011
operating earnings came in at 17 cents per share, well below the
year-ago quarter earnings of 25 cents per share.
New York Community Bancorp pays an annual dividend of one
dollar, for a seven percent yield. The company reported GAAP
earnings of $119.8 million, or $0.27 per diluted share, for the
three months ended September 30, 2011.
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