BNY (NYSE:BK) Insider Sells $719,545.80 in Stock

BNY (NYSE:BK) insider Kurtis Kurimsky sold 5,290 shares of BNY stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider owned 17,259 shares of the company’s stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

BNY Stock Performance

BK stock traded up $2.60 during trading on Tuesday, reaching $137.97. The company had a trading volume of 4,522,694 shares, compared to its average volume of 3,862,232. The firm has a 50-day simple moving average of $120.45 and a 200-day simple moving average of $116.19. The company has a market cap of $94.96 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. BNY has a twelve month low of $75.35 and a twelve month high of $139.15.

BNY (NYSE:BK) last announced 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. BNY had a net margin of 14.60% and a return on equity of 15.29%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the business posted $1.58 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that BNY will post 8.52 earnings per share for the current year.

BNY Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, April 27th. BNY’s payout ratio is 26.27%.

Institutional Investors Weigh In On BNY

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abound Financial LLC purchased a new stake in BNY in the 4th quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of BNY during the fourth quarter worth $27,000. MCF Advisors LLC grew its holdings in shares of BNY by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares in the last quarter. Marquette Asset Management LLC grew its holdings in shares of BNY by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares in the last quarter. Finally, Heritage Wealth Advisors purchased a new stake in shares of BNY during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BK. Citigroup began coverage on shares of BNY in a report on Monday, February 23rd. They set a “neutral” rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company lifted their target price on shares of BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Evercore set a $136.00 target price on shares of BNY in a report on Friday. Finally, Weiss Ratings raised shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.35.

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.