NewEdge Wealth LLC Buys 10,394 Shares of BNY $BK

NewEdge Wealth LLC boosted its stake in BNY (NYSE:BK) by 105.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,267 shares of the bank’s stock after purchasing an additional 10,394 shares during the quarter. NewEdge Wealth LLC’s holdings in BNY were worth $2,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ransom Advisory Ltd boosted its holdings in BNY by 1.3% in the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after purchasing an additional 85 shares during the period. Mather Group LLC. boosted its holdings in BNY by 0.9% in the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 86 shares during the period. Valeo Financial Advisors LLC boosted its holdings in BNY by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after purchasing an additional 94 shares during the period. Vectors Research Management LLC boosted its holdings in BNY by 0.7% in the 4th quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after purchasing an additional 94 shares during the period. Finally, Angeles Wealth Management LLC boosted its holdings in BNY by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after purchasing an additional 98 shares during the period. Institutional investors own 85.31% of the company’s stock.

BNY Stock Performance

NYSE BK opened at $133.48 on Wednesday. The company has a fifty day moving average of $124.55 and a 200-day moving average of $118.84. The company has a market capitalization of $91.86 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.97 and a beta of 1.08. BNY has a 52-week low of $86.97 and a 52-week high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75.

BNY (NYSE:BK) last released its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.BNY’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. As a group, equities research analysts predict that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY’s payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. Citigroup initiated coverage on BNY in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Evercore set a $136.00 price target on BNY in a research report on Friday, April 17th. New Street Research set a $143.00 price target on BNY in a research report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price target on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Insider Transactions at BNY

In other BNY news, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This represents a 37.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by corporate insiders.

BNY 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.