In a recent disclosure outlined in a congressional trade report, Katherine M. Clark (D), representing Massachusetts’s 5th congressional district, reported two stock transactions involving New York Community Bancorp, Inc. (NYSE: NYCB), a beleaguered New York-based bank experiencing a 70% decline in value this year.
The first transaction involved the sale of New York Community Bancorp stock from the Judith S. Clark Irrevocable Trust, with the sale amount falling within the range of $1,001 to $15,000. Similarly, the second transaction, originating from the Katherine M. Clark Separate Share Trust, also involved the sale of New York Community Bancorp stock within the same monetary range. Both transactions occurred on March 1, 2024, and were officially reported on April 2, 2024.
According to the disclosure, the Katherine M. Clark Separate Share Trust was inherited on April 5, 2019. However, specific details regarding the Judith S. Clark Irrevocable Trust were not provided.
These transactions form part of the routine financial disclosures required of congressional members under the STOCK Act. Enacted to ensure transparency and mitigate potential conflicts of interest, the Act mandates the disclosure of federal legislators’ financial trades.
It is imperative to recognize that these transactions do not necessarily reflect Congresswoman Clark’s perspectives on the future performance of New York Community Bancorp, Inc. As with any investment decision, investors are advised to conduct thorough research or seek guidance from a financial advisor.