2024-03-19 12:52:08 ET
Summary
- New York Community Bancorp, Inc. received a $1.05 billion investment led by Steve Mnuchin's Liberty Strategic Capital, Reverence Capital, and Hudson Bay Capital.
- The investment is dilutive but will shore up the bank's balance sheet against a worst-case real estate scenario.
- The investor base and new management have strong connections and experience with regulators, suggesting confidence in satisfying regulator concerns.
- About 80% upside needed just to get New York Community Bancorp, Inc. stock to tangible book value.
Large Institutional Investment in NYCB:
On Wednesday March 6th, New York Community Bancorp, Inc. ( NYCB ) received a $1.05 billion investment led by former Treasury Secretary Steve Mnuchin's Liberty Strategic Capital, Reverence Capital, and Hudson Bay Capital. Details of the investment are below....
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New York Community Bancorp: Follow The Smart (And Connected) Money