Bank Julius Baer & Co. Ltd Zurich Buys 4,216 Shares of BNY $BK

Bank Julius Baer & Co. Ltd Zurich raised its stake in BNY (NYSE:BK) by 38.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,224 shares of the bank’s stock after buying an additional 4,216 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in BNY were worth $1,767,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BK. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of BNY by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after buying an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after buying an additional 2,034,781 shares during the period. AQR Capital Management LLC boosted its position in BNY by 29.1% during the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after acquiring an additional 906,218 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in BNY during the fourth quarter valued at $95,002,000. Finally, Vanguard Group Inc. boosted its position in BNY by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at BNY

In other BNY news, 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 value of $40,703.85. Following the transaction, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last three months. Insiders own 0.17% of the company’s stock.

BNY Trading Down 0.8%

NYSE BK opened at $134.89 on Friday. The business has a 50 day simple moving average of $125.55 and a 200 day simple moving average of $119.35. The stock has a market capitalization of $92.84 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.99 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. BNY has a one year low of $87.41 and a one year high of $139.15.

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

BNY Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on BK. Evercore set a $136.00 price target on shares of BNY in a research report on Friday, April 17th. Weiss Ratings raised BNY from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their target price on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. Citigroup assumed coverage on BNY in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods raised their target price on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given 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 $138.08.

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.