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New York Community Bancorp Upgraded on Deal Speculation

When discussing the possibilities of regulators forcing the company to lower its dividend, Ficalora said "there is individual review of every bank with regard to capacity to pay. And the limitation on capacity to pay is driven by the adequacy of your capital to deal with stress. There is no indication that we aren't way overcapitalized based on the likely charges we would have to capital."

Gilbert sees a "favorable risk/reward" in her analysis of several possible deal outcomes for New York Community Bancorp, most of which would include the company maintaining the annual dividend of $1.00 a share. However, if the company is unable to complete a major acquisition, while the interest rate environment remains unchanged, with weak loan demand, she sees "potential downside of -6% assuming a stressed standalone value ($12), and a 50% dividend cut ($0.50)."

NYCB Chart NYCB data by YCharts

Interested in more on New York Community Bancorp? See TheStreet Ratings' report card for this stock.

-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
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