Ashton Thomas Private Wealth LLC Lowers Holdings in BNY $BK

Key Points

• Ashton Thomas Private Wealth LLC trimmed its stake in BNY by 27.8% in Q4, selling 25,524 shares and finishing the period with 66,238 shares worth about $7.69 million.
• Company insiders have been net sellers—including EVP Alejandro Perez's 12,504-share sale on April 17—with insiders selling 48,091 shares (~$6.57 million) in the past three months and now owning 0.17% of the stock.
• BNY beat quarterly estimates and announced a dividend: the firm reported $2.25 EPS vs. $1.94 expected and $5.41 billion revenue vs. $5.14 billion expected, and declared a $0.53 quarterly dividend (annualized $2.12, ~1.6% yield).

Ashton Thomas Private Wealth LLC trimmed its holdings in BNY (NYSE:BK - Free Report) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,238 shares of the bank's stock after selling 25,524 shares during the period. Ashton Thomas Private Wealth LLC's holdings in BNY were worth $7,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in BK. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of BNY in the fourth quarter valued at about $27,000. Marquette Asset Management LLC lifted its position in shares of BNY by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of BNY in the third quarter valued at about $33,000. Westside Investment Management Inc. lifted its position in shares of BNY by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after acquiring an additional 127 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of BNY by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after acquiring an additional 242 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alejandro Perez sold 12,504 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by company insiders.

BNY Price Performance

Shares of BNY stock opened at $134.10 on Monday. The stock has a 50 day moving average of $121.70 and a 200 day moving average of $117.02. BNY has a 12 month low of $77.77 and a 12 month high of $139.15. The firm has a market cap of $92.29 billion, a PE ratio of 16.62, a PEG ratio of 0.98 and a beta of 1.06. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

BNY (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $5.14 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The firm's revenue was up 12.9% on a year-over-year basis. On average, research analysts expect that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BK shares. Evercore set a $136.00 target price on BNY in a research report on Friday, April 17th. Barclays increased their price target on BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Weiss Ratings raised BNY from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, March 11th. Truist Financial increased their price target on BNY from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods increased their price target on BNY from $143.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.35.

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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