8 Stocks in the Penalty Box That Offer Big Upside and Passive Income Dividends as High as 9%

Note that debottlenecking is the process of identifying specific areas or equipment in oil and gas facilities that limit the flow of product (known as bottlenecks) and optimizing them so that overall capacity in the plant can be increased.

The dividend yield here is 6.03%. LyondellBasell Industries stock has a $102 price target at Barclays. That compares to the $97.76 consensus target and a closing price of $78.69 a share on Thursday.

New York Community Bancorp

This somewhat off-the-radar company pays a huge dividend and is an attractive idea for investors also looking to own financials now, as they have been hit hard recently. New York Community Bancorp Inc. (NYSE: NYCB) operates as the bank holding company for New York Community Bank, which provides banking products and services in New York, New Jersey, Ohio, Florida and Arizona.

The company accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing and individual retirement accounts, as well as certificates of deposit. Its loan products include multifamily loans; commercial real estate loans; specialty finance loans and leases; and commercial and industrial loans; acquisition, development and construction loans; one-to-four family loans; and consumer loans.

The company also offers annuities, life and long-term care insurance products and mutual funds; cash management products; and online, mobile and phone banking services. It primarily serves individuals, small and midsize businesses, and professional associations through a network of 237 community bank branches and 340 ATM locations.

Shareholders receive a 7.08% dividend. The BofA Securities price target is $11. Analysts have an $11.36 consensus. Thursday’s closing print for New York Community Bancorp stock was $9.60.

The stock market is headed lower, and buying any of these in front of third-quarter earnings could be dangerous. It may make sense to buy partial positions now and see how the results come in. The bottom line is that none of these companies are going away, so it is a solid idea to buy shares, collect the dividends and wait for a move higher, even if it takes a year.

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