11,582 Shares in BNY $BK Bought by Sun Financial Inc

Key Points

• Sun Financial bought a new position of 11,582 shares of BNY (NYSE:BK) in Q4, valued at about $1.345 million.
• Company insiders sold a notable amount of stock—VP Shannon Hobbs (297 shares) and EVP Alejandro Perez (12,504 shares) sold on April 17 (total 12,801), and insiders have sold 48,091 shares worth about $6.57 million over the last 90 days, leaving insiders with 0.17% ownership.
• BNY beat expectations for the quarter with $2.25 EPS vs. $1.94 consensus and revenue of $5.41B vs. $5.14B, and declared a quarterly dividend of $0.53 ($2.12 annual, ~1.6% yield).

Sun Financial Inc purchased a new position in BNY (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,582 shares of the bank's stock, valued at approximately $1,345,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of BNY in the fourth quarter worth $27,000. Marquette Asset Management LLC increased its stake in shares of BNY by 174.7% in 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 during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of BNY in the third quarter worth $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of BNY in the fourth quarter worth $46,000. Finally, Westside Investment Management Inc. boosted its holdings in BNY by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after purchasing an additional 127 shares during the period. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at BNY

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares of the company's stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. 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 the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the sale, the executive vice president directly owned 62,613 shares of the company's stock, valued at $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 over the last 90 days. Insiders own 0.17% of the company's stock.

BNY Stock Performance

Shares of BK opened at $133.81 on Monday. BNY has a 1 year low of $81.12 and a 1 year high of $139.15. The company has a market cap of $92.09 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. The firm has a fifty day moving average of $122.91 and a 200-day moving average of $117.79.

BNY (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion during 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 company's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. As a group, equities analysts anticipate that BNY will post 8.76 earnings per share for the current year.

BNY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Monday, April 27th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, April 27th. BNY's dividend payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of BNY from $128.50 to $130.50 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. Evercore set a $136.00 target price on shares of BNY in a research note on Friday, April 17th. New Street Research set a $143.00 target price on shares of BNY in a research note on Wednesday, January 14th. Citigroup assumed coverage on shares of BNY in a research note on Monday, February 23rd. They set a "neutral" rating for the company. Finally, Wells Fargo & Company boosted their target price on shares of BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 14th. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.35.

BNY 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.