BNY $BK Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP reduced its holdings in shares of BNY (NYSE:BK) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 365,736 shares of the bank’s stock after selling 28,993 shares during the quarter. Yacktman Asset Management LP’s holdings in BNY were worth $42,458,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of BNY during the 4th quarter worth about $27,000. Marquette Asset Management LLC boosted its position in shares of BNY by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Valley Wealth Managers Inc. acquired a new stake in shares of BNY in the 3rd quarter valued at about $33,000. Westside Investment Management Inc. boosted its position in shares of BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after purchasing an additional 127 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of BNY in the 4th quarter valued at about $46,000. 85.31% of the stock is owned by institutional investors and hedge funds.

BNY Stock Down 0.2%

Shares of NYSE BK opened at $130.48 on Friday. The business has a 50-day moving average price of $123.84 and a 200 day moving average price of $118.32. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $89.80 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. BNY has a 52-week low of $85.69 and a 52-week high of $139.15.

BNY (NYSE:BK) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 EPS. Equities research analysts forecast that BNY will post 8.76 earnings per share for the current year.

BNY Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Morgan Stanley upped their target price on BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Wells Fargo & Company upped their target price on BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Barclays upped 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. Finally, Truist Financial upped their target price on BNY from $140.00 to $148.00 and gave the company a “buy” 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 given a Hold rating to the company. According to data from MarketBeat.com, BNY presently has a consensus rating of “Moderate Buy” and an average target price of $137.35.

Insider Buying and Selling

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This represents a 23.46% 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 in the last quarter. 0.17% of the stock is currently owned by 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.