High Yielding New York Community Bancorp and People's United Financial Start Posting Loan Growth
December 09 2011 - 8:16AM
Marketwired
The low interest rate environment has had a mixed effect on the
Savings & Loans industry. While most institutions have posted
declines in net interest income, record low mortgage rates have
helped to attract many new potential homeowners and increase
mortgage banking revenue. The Paragon Report examines investing
opportunities in the Savings & Loans industry and provides
equity research on New York Community Bancorp, Inc. (NYSE: NYB) and
People's United Financial, Inc. (NASDAQ: PBCT). Access to the full
company reports can be found at:
www.paragonreport.com/NYB
www.paragonreport.com/PBCT
While the stock prices for many of these Savings & Loans
banks have fallen considerably over the past year, some banks pay
substantial dividends, which are attracting more investors due to
the low interest environment.
Presently New York Community Bancorp pays an annual dividend of
one dollar per share for a hefty yield of around 8.4 percent. In
the company's most recent quarterly earnings release New York
Community Bancorp CEO Joseph Ficalora said that despite "the
decline in market interest rates, the costs of regulatory change,
and the stubbornly high level of unemployment," New York Community
Bancorp remains supported by impressive loan growth and a boost in
mortgage banking income.
The Paragon Report provides investors with an excellent first
step in their due diligence by providing daily trading ideas, and
consolidating the public information available on them. For more
investment research on the Savings and Loans Industry register with
us free at www.paragonreport.com and get exclusive access to our
numerous stock reports and industry newsletters.
People's United Financial currently pays an annual dividend of
63 cents for a yield of around five percent. People's United
Financial is a bank with 372 branches in Connecticut,
Massachusetts, Vermont, New York, New Hampshire and Maine.
People's United Financial posted net income of $52.9 million, or
$0.15 per share, for the third quarter of 2011, compared to $24.1
million, or $0.07 per share, for the third quarter of 2010, and
$51.2 million, or $0.15 per share, for the second quarter of 2011.
"Our performance this quarter continues to reflect improvements in
our operating metrics, including another solid quarter of organic
loan and deposit growth throughout our franchise, and encouraging
trends in asset quality," stated Jack Barnes, President and Chief
Executive Officer.
The Paragon Report has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
disclaimer at http://www.paragonreport.com/disclaimer
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