Atria Investments Inc Grows Stake in BNY $BK

Atria Investments Inc boosted its stake in shares of BNY (NYSE:BK) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 103,989 shares of the bank’s stock after purchasing an additional 4,062 shares during the period. Atria Investments Inc’s holdings in BNY were worth $12,072,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Navalign LLC bought a new position in shares of BNY during the 4th quarter valued at approximately $66,000. Catalyst Financial Partners LLC bought a new stake in BNY in the fourth quarter worth $444,000. Moneco Advisors LLC boosted its stake in BNY by 8.7% during the fourth quarter. Moneco Advisors LLC now owns 3,442 shares of the bank’s stock worth $400,000 after buying an additional 276 shares during the period. Ameritas Advisory Services LLC lifted its holdings in shares of BNY by 37.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 2,679 shares of the bank’s stock worth $311,000 after acquiring an additional 725 shares during the last quarter. Finally, Atlantic Union Bankshares Corp boosted its stake in shares of BNY by 1.4% during the 4th quarter. Atlantic Union Bankshares Corp now owns 7,452 shares of the bank’s stock worth $865,000 after purchasing an additional 106 shares during the period. 85.31% of the stock is owned by institutional investors.

BNY Price Performance

Shares of BK stock opened at $135.82 on Friday. BNY has a fifty-two week low of $87.41 and a fifty-two 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. The firm has a market capitalization of $93.48 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.99 and a beta of 1.08. The stock’s 50-day simple moving average is $125.22 and its 200-day simple moving average is $119.24.

BNY (NYSE:BK) last released its earnings results on Thursday, April 16th. The bank reported $2.25 EPS 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 analysts’ expectations of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. BNY’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. As a group, equities analysts forecast that BNY will post 8.78 earnings per share for the current fiscal year.

BNY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. 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 currently 26.27%.

Insider Buying and Selling at BNY

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was 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 of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the sale, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 in the last three months. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of BNY from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Barclays boosted their target price on BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Evercore set a $136.00 price target on BNY in a report on Friday, April 17th. Royal Bank Of Canada raised their price target on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. Finally, Morgan Stanley boosted their price objective on shares of BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. One investment 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 company. Based on data from MarketBeat.com, BNY currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.08.

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.