Forget New York Community Bancorp, Buy This Magnificent High-Yield Stock Instead
There are hard turnarounds, and then there are easy turnarounds. Most investors should be wary of hard turnarounds, but easy ones can be worth a deep dive even for more conservative investors. This is why investors should forget about New York Community Bancorp (NYSE: NYCB) and, instead, buy Bank of Nova Scotia (NYSE: BNS) and its lofty 6.2% dividend yield.
Here's a quick comparison to help explain why.
New York Community Bancorp's ambition was to become a larger bank. To that end, it bought Flagstar Bank in December 2022. Then there was a series of bank runs and failures in early 2023. New York Community Bancorp sailed through that difficult period without too much trouble and, in fact, tried to take advantage of the market dislocation.
Source Fool.com
