Shannon Marie Hobbs Sells 297 Shares of BNY (NYSE:BK) Stock

BNY (NYSE:BK) VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

BNY Price Performance

BK traded up $2.60 during midday trading on Tuesday, hitting $137.97. The stock had a trading volume of 4,522,694 shares, compared to its average volume of 3,862,232. The company has a market cap of $94.96 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. BNY has a 1 year low of $75.35 and a 1 year high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. The business has a fifty day moving average of $120.45 and a 200 day moving average of $116.19.

BNY (NYSE:BK) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the business earned $1.58 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that BNY will post 8.52 earnings per share for the current fiscal year.

BNY Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, April 27th. BNY’s dividend payout ratio is currently 26.27%.

Institutional Investors Weigh In On BNY

Several institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its position in shares of BNY by 17.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 141,899 shares of the bank’s stock valued at $16,473,000 after buying an additional 21,506 shares during the last quarter. World Investment Advisors increased its stake in shares of BNY by 14.4% in the 4th quarter. World Investment Advisors now owns 72,285 shares of the bank’s stock worth $8,391,000 after purchasing an additional 9,105 shares in the last quarter. Advisortrust Partners LLC purchased a new position in shares of BNY during the 4th quarter valued at about $207,000. Corient Private Wealth LLC lifted its holdings in BNY by 8.1% during the fourth quarter. Corient Private Wealth LLC now owns 257,048 shares of the bank’s stock valued at $29,822,000 after purchasing an additional 19,341 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in BNY during the fourth quarter valued at approximately $84,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Barclays upped their price target on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday. New Street Research set a $143.00 price target on shares of BNY in a report on Wednesday, January 14th. Keefe, Bruyette & Woods upped their price target on shares of BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday. Finally, TD Cowen lifted their price target on shares of BNY from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, BNY presently has an average rating of “Moderate Buy” and an average price target of $137.35.

BNY Company Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.