Shannon Marie Hobbs Sells 297 Shares of BNY (NYSE:BK) Stock

BNY (NYSE:BK) VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

BNY Trading Down 1.5%

Shares of NYSE:BK opened at $135.86 on Thursday. BNY has a 52-week low of $77.48 and a 52-week high of $139.15. The stock has a market cap of $93.50 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.02 and a beta of 1.06. 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 business has a 50-day moving average price of $120.96 and a 200-day moving average price of $116.55.

BNY (NYSE:BK) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. Equities analysts predict that BNY will post 8.67 EPS for the current year.

BNY Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, April 27th. BNY’s dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective 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 boosted their price objective on BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Royal Bank Of Canada boosted their price objective on BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. Morgan Stanley boosted their price objective on BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Finally, Truist Financial boosted their price objective on BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.35.

BNY News Summary

Here are the key news stories impacting BNY this week:

• Positive Sentiment: Analysts have an overall “Moderate Buy” consensus and several recent price-target raises, which supports upside expectations for BK. Analyst Consensus: Moderate Buy
• Positive Sentiment: BNY reported a solid Q1 beat (EPS and revenue ahead of estimates), is paying a quarterly dividend, and management has signaled capital returns (including a large buyback), all of which underpin longer-term investor optimism. Q1 Beat, Dividend and Buyback
• Neutral Sentiment: Institutional ownership remains very high (~85%), and several hedge funds adjusted small positions in the most recent quarter — this suggests moves may be driven more by major holders and corporate-newsflow than retail trading.
• Negative Sentiment: A cluster of insider sales on April 17 (including EVP Alejandro Perez, EVP J. Kevin McCarthy, Kurtis Kurimsky and VP Shannon Hobbs) was disclosed this week; the size and concentration of those disposals can be interpreted negatively by the market. SEC filings: Perez, McCarthy, Kurimsky, Hobbs. Wave of Insider Sales Perez filing McCarthy filing Kurimsky filing Hobbs filing
• Negative Sentiment: Unusual options activity: traders bought ~15,757 put contracts (a ~663% jump over typical daily put volume), signaling elevated hedging or bearish bets that can amplify near-term downside pressure.

Institutional Investors Weigh In On BNY

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position 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 valued at $8,279,525,000 after buying an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of BNY by 18,044.4% in the fourth 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 last quarter. Ameriprise Financial Inc. raised its position in shares of BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after buying an additional 2,034,781 shares during the last quarter. Norges Bank acquired a new stake in shares of BNY in the fourth quarter valued at about $1,398,624,000. Finally, Invesco Ltd. raised its position in shares of BNY by 8.2% in the fourth quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock valued at $891,621,000 after buying an additional 578,999 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.