Jim Lebenthal buys $NYCB as it reveals plans of reverse stock split

Jim Lebenthal – the chief equity strategist of Cerity Partners just invested in New York Community Bancorp Inc (NYSE: NYCB). Shares of the regional lender are up 5.0% at writing. NYCB stock is trading below tangible book value Lebenthal agrees that $NYCB is a “higher risk” trade considering the embattled bank has “some uninsured deposits”. […]