Passumpsic Savings Bank Invests $3.11 Million in BNY $BK

Passumpsic Savings Bank bought a new position in shares of BNY (NYSE:BK) in the 4th quarter, Holdings Channel reports. The fund bought 26,746 shares of the bank’s stock, valued at approximately $3,105,000. BNY makes up 1.7% of Passumpsic Savings Bank’s holdings, making the stock its 21st biggest position.

Several other hedge funds have also made changes to their positions in the business. Ashton Thomas Private Wealth LLC raised its position in BNY by 133.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after purchasing an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp raised its position in BNY by 35.1% during the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after purchasing an additional 8,277 shares in the last quarter. National Pension Service raised its position in BNY by 3.1% during the third quarter. National Pension Service now owns 2,053,278 shares of the bank’s stock valued at $223,725,000 after purchasing an additional 61,718 shares in the last quarter. First National Bank of Omaha acquired a new position in shares of BNY during the third quarter worth $3,044,000. Finally, Cullen Investment Group LTD. increased its holdings in shares of BNY by 1,691.4% during the fourth quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank’s stock worth $4,610,000 after buying an additional 36,568 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods upped their price target on shares of BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Morgan Stanley upped their price target 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. Citigroup started coverage on shares of BNY in a report on Monday, February 23rd. They set a “neutral” rating for the company. Weiss Ratings upgraded shares of BNY from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada upped their price target on shares of BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

BNY Stock Performance

Shares of BNY stock opened at $134.89 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. BNY has a twelve month low of $87.41 and a twelve month high of $139.15. The stock has a market cap of $92.84 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 0.99 and a beta of 1.08. The company’s fifty day moving average is $125.55 and its 200 day moving average is $119.43.

BNY (NYSE:BK) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion for 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%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Sell-side analysts forecast that BNY will post 8.78 EPS 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 given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY’s dividend payout ratio is 26.27%.

Insider Activity

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president owned 15,206 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the transaction, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by insiders.

BNY Company 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.