BNY $BK Stock Position Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in BNY (NYSE:BK) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 194,793 shares of the bank’s stock after purchasing an additional 11,091 shares during the quarter. QRG Capital Management Inc.’s holdings in BNY were worth $22,614,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of BK. Revolve Wealth Partners LLC bought a new position in shares of BNY in the fourth quarter worth $220,000. Sivia Capital Partners LLC boosted its stake in BNY by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after buying an additional 909 shares in the last quarter. Jump Financial LLC bought a new position in BNY during the second quarter valued at about $2,482,000. Treasurer of the State of North Carolina boosted its stake in BNY by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after buying an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. boosted its stake in BNY by 11,890.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after buying an additional 1,189 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

BNY Trading Down 1.6%

NYSE:BK opened at $131.67 on Tuesday. 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 1-year low of $81.12 and a 1-year high of $139.15. The firm has a market capitalization of $90.62 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The stock has a fifty day simple moving average of $122.91 and a 200 day simple moving average of $117.79.

BNY (NYSE:BK) last released its quarterly earnings results 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 return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the company posted $1.58 EPS. BNY’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts forecast that BNY will post 8.76 earnings per share for the current year.

BNY Dividend Announcement

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

Insider Buying and Selling

In related news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction 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 transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,091 shares of company stock worth $6,568,423. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BK. Weiss Ratings raised BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Keefe, Bruyette & Woods raised their target price on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Truist Financial raised their target price on BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Citigroup began coverage on BNY in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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.