BNY $BK Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its stake in shares of BNY (NYSE:BK) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,134 shares of the bank’s stock after selling 5,059 shares during the period. SVB Wealth LLC’s holdings in BNY were worth $1,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 worth $771,080,000 after buying an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of BNY by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of BNY by 29.1% in 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 in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of BNY in the fourth quarter worth approximately $95,002,000. Finally, Vanguard Group Inc. boosted its stake in shares of BNY by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BNY

In other BNY news, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president directly owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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 in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last three months. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BK shares. Truist Financial increased their price objective on BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Evercore set a $136.00 target price on shares of BNY in a research note on Friday, April 17th. Barclays increased their target price on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods raised their price target on shares of BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, Morgan Stanley boosted their price target on shares of BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.08.

BNY Trading Up 1.5%

Shares of BNY stock opened at $132.44 on Tuesday. The firm has a market capitalization of $91.15 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.96 and a beta of 1.08. BNY has a fifty-two week low of $86.52 and a fifty-two week high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average of $124.26 and a 200 day moving average of $118.66.

BNY (NYSE:BK) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion during 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 firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, research analysts predict that BNY will post 8.76 earnings per share for the current year.

BNY Dividend Announcement

The company also recently declared 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. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, April 27th. BNY’s dividend payout ratio is 26.27%.

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.