BNY $BK Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in BNY (NYSE:BK) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 103,730 shares of the bank’s stock after selling 7,520 shares during the quarter. Fifth Third Bancorp’s holdings in BNY were worth $12,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Danske Bank A S lifted its holdings in BNY by 22.0% in the 4th quarter. Danske Bank A S now owns 738,730 shares of the bank’s stock worth $85,759,000 after buying an additional 133,249 shares in the last quarter. GenTrust LLC lifted its holdings in BNY by 3.5% in the 4th quarter. GenTrust LLC now owns 5,523 shares of the bank’s stock worth $641,000 after buying an additional 187 shares in the last quarter. Secured Retirement Advisors LLC lifted its holdings in BNY by 3.9% in the 4th quarter. Secured Retirement Advisors LLC now owns 19,991 shares of the bank’s stock worth $2,321,000 after buying an additional 758 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of BNY in the 4th quarter worth about $107,000. Finally, 5th Street Advisors LLC bought a new stake in shares of BNY in the 4th quarter worth about $243,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at BNY

In other BNY news, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock worth $6,568,423 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

BNY Price Performance

Shares of NYSE:BK opened at $133.81 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. BNY has a fifty-two week low of $81.12 and a fifty-two week high of $139.15. The firm has a 50-day simple moving average of $122.91 and a 200 day simple moving average of $117.64. The company has a market cap of $92.09 billion, a PE ratio of 16.58, a P/E/G ratio of 0.98 and a beta of 1.08.

BNY (NYSE:BK) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, April 27th. BNY’s dividend payout ratio is currently 26.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays boosted their target price on shares of BNY from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Truist Financial boosted their target price on shares of BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Royal Bank Of Canada boosted their target price on shares of BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 17th. Evercore set a $136.00 target price on shares of BNY in a research report on Friday, April 17th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, BNY currently has an average rating of “Moderate Buy” and an average target price of $137.35.

About BNY

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.