Abacus Wealth Partners LLC bought a new position in shares of BNY (NYSE:BK – Free Report) during the 4th quarter, Holdings Channel.com reports. The firm bought 12,166 shares of the bank’s stock, valued at approximately $1,412,000.
Several other hedge funds have also recently bought and sold shares of the business. Ransom Advisory Ltd lifted its holdings in shares of BNY by 1.3% during the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after acquiring an additional 85 shares during the period. Mather Group LLC. lifted its stake in shares of BNY by 0.9% in the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 86 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of BNY by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after purchasing an additional 94 shares in the last quarter. Vectors Research Management LLC lifted its stake in shares of BNY by 0.7% in the 4th quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after purchasing an additional 94 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in shares of BNY by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after purchasing an additional 98 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, insider Kurtis R. Kurimsky sold 5,290 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction 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. The trade was a 23.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president directly owned 62,613 shares in the company, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock worth $6,568,423 over the last three months. 0.17% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
BNY Price Performance
Shares of NYSE BK opened at $134.89 on Friday. BNY has a 1-year low of $87.41 and a 1-year high of $139.15. The business has a 50-day moving average of $125.55 and a 200-day moving average of $119.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $92.84 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.99 and a beta of 1.08.
BNY (NYSE:BK – Get Free Report) last issued its earnings results 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. BNY had a return on equity of 15.29% and a net margin of 14.60%.The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that BNY will post 8.78 EPS for the current fiscal year.
BNY Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. BNY’s dividend payout ratio is presently 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.
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