State of New Jersey Common Pension Fund D Sells 6,495 Shares of BNY $BK

State of New Jersey Common Pension Fund D reduced its holdings in BNY (NYSE:BK) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 236,053 shares of the bank’s stock after selling 6,495 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BNY were worth $27,403,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in BNY in the 4th quarter worth approximately $27,000. Marquette Asset Management LLC increased its position in BNY by 174.7% in the 4th 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. bought a new position in BNY in the 3rd quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of BNY during the 4th quarter worth approximately $46,000. Finally, Westside Investment Management Inc. grew its holdings in shares of BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

BNY Price Performance

Shares of BK stock opened at $134.52 on Friday. The stock’s fifty day simple moving average is $122.91 and its 200 day simple moving average is $117.64. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. The firm has a market cap of $92.58 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 0.97 and a beta of 1.06. BNY has a one year low of $79.72 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 EPS for the quarter, beating 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%.BNY’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.58 EPS. On average, analysts expect that BNY will post 8.76 earnings per share for the current fiscal year.

BNY Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Cowen lifted their price objective on BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. New Street Research set a $143.00 price objective on BNY in a report on Wednesday, January 14th. Weiss Ratings raised BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. Truist Financial lifted their price objective on BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Morgan Stanley lifted their price objective on BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued 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 a consensus target price of $137.35.

Insider Buying and Selling

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 stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider owned 17,259 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock worth $6,568,423 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

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.