Vanguard Cuts NYCB Stake to 5.4%, Holding 40M Shares

TL;DR

**Vanguard just trimmed its NYCB holdings to 5.4%, a bearish signal for the stock.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in New York Community Bancorp Inc. As of December 29, 2023, Vanguard reported beneficial ownership of 40,040,119 shares of Common Stock, representing 5.4% of the company. This is a decrease from their previous filing, indicating Vanguard has reduced its stake, which could signal a shift in their outlook on the bank's future performance.

Why It Matters

This matters to investors because a significant institutional investor like Vanguard reducing its position can be interpreted as a lack of confidence, potentially signaling future challenges for New York Community Bancorp Inc.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its stake can indicate potential concerns about the company's future, adding a layer of uncertainty for other shareholders.

Analyst Insight

A smart investor would view Vanguard's reduction in stake as a potential red flag and conduct further due diligence into New York Community Bancorp Inc's recent financial performance and outlook before making any investment decisions.

Key Numbers

• 40,040,119 — Shares Beneficially Owned (Represents the total number of Common Stock shares of New York Community Bancorp Inc held by The Vanguard Group as of December 29, 2023.)
• 5.4% — Percentage of Class (Indicates the percentage of New York Community Bancorp Inc's Common Stock beneficially owned by The Vanguard Group, a decrease from previous filings.)
• December 29, 2023 — Event Date (This is the specific date that triggered the requirement for The Vanguard Group to file this amendment, reflecting their holdings at that time.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• New York Community Bancorp Inc (company) — subject company whose securities are being reported
• 40,040,119 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 5.4% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• New York Community Bancorp Inc's stock price may face downward pressure due to Vanguard's reduced stake. (New York Community Bancorp Inc) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in New York Community Bancorp Inc following Vanguard's move. (Institutional Investors) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• tv01538-newyorkcommunitybanc.htm (SC 13G/A) — 11KB
• 0001104659-24-021549.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: New York Community Bancorp Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 102 Duffy Avenue Hicksville, NY 11801

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 649445103

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR