BNY $BK Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC trimmed its position in BNY (NYSE:BK) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 163,819 shares of the bank’s stock after selling 4,566 shares during the period. BNY comprises approximately 2.1% of Isthmus Partners LLC’s holdings, making the stock its 8th largest holding. Isthmus Partners LLC’s holdings in BNY were worth $19,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of BNY in the fourth quarter worth about $27,000. Marquette Asset Management LLC boosted its holdings in shares of BNY by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of BNY in the third quarter worth about $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of BNY in the fourth quarter worth about $46,000. Finally, Westside Investment Management Inc. boosted its holdings in shares of BNY by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after buying an additional 127 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on BK shares. Citigroup started coverage on shares of BNY in a report on Monday, February 23rd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their target price on shares of BNY from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Truist Financial raised their target price on shares of BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Morgan Stanley raised their target price on shares of BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. Finally, Royal Bank Of Canada increased their price target 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

BNY Price Performance

NYSE BK opened at $134.89 on Friday. The company has a 50 day simple moving average of $125.55 and a 200-day simple moving average of $119.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $92.84 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08. BNY has a 52-week low of $87.41 and a 52-week high of $139.15.

BNY (NYSE:BK) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. Equities research analysts predict that BNY will post 8.78 earnings per share for the current fiscal year.

BNY Dividend Announcement

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

Insider Activity at BNY

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred on 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 sale, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,091 shares of company stock valued at $6,568,423 over the last ninety days. 0.17% of the stock is owned by company 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.