Qsemble Capital Management LP bought a new stake in shares of BNY (NYSE:BK – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 69,624 shares of the bank’s stock, valued at approximately $8,083,000.
A number of other institutional investors also recently modified their holdings of the stock. AlphaCore Capital LLC boosted its stake in shares of BNY by 22.5% during the 4th quarter. AlphaCore Capital LLC now owns 3,764 shares of the bank’s stock valued at $437,000 after buying an additional 692 shares during the period. DNB Asset Management AS boosted its stake in shares of BNY by 1.2% during the 4th quarter. DNB Asset Management AS now owns 145,157 shares of the bank’s stock valued at $16,851,000 after buying an additional 1,765 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of BNY by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after buying an additional 19,561,793 shares during the period. Phoenix Financial Ltd. acquired a new stake in shares of BNY during the 4th quarter valued at $266,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of BNY by 1.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,134,068 shares of the bank’s stock valued at $131,654,000 after purchasing an additional 12,147 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.
Insider Activity
In related news, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alejandro Perez sold 12,504 shares of BNY 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 completion of the transaction, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 48,091 shares of company stock worth $6,568,423. Insiders own 0.17% of the company’s stock.
BNY Stock Down 0.8%
BNY (NYSE:BK – Get Free Report) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. Sell-side analysts anticipate that BNY will post 8.78 EPS for the current fiscal year.
BNY Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, April 27th. BNY’s dividend payout ratio (DPR) is 26.27%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of BNY in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods lifted their price objective on shares of BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Weiss Ratings raised shares of BNY from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of BNY from $130.50 to $140.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Truist Financial lifted their price objective on shares of BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.08.
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.
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