Axecap Investments LLC Makes New Investment in BNY $BK

Key Points

• Axecap Investments LLC bought a new stake of 25,799 shares of BNY (~$2.995 million), representing about 1.8% of its portfolio and the fund's 23rd largest holding.
• BNY beat Q1 estimates with EPS $2.25 versus $1.94 and revenue $5.41B versus $5.14B (revenue +12.9% YoY), and announced a quarterly dividend of $0.53 per share (annualized $2.12, 1.6% yield; payable May 8, ex-dividend April 27).
• Wall Street sentiment is broadly positive — MarketBeat shows a consensus "Moderate Buy" with a $137.35 target, and several firms have recently raised price objectives and maintained Buy/Outperform views.

Axecap Investments LLC bought a new stake in BNY (NYSE:BK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,799 shares of the bank's stock, valued at approximately $2,995,000. BNY accounts for approximately 1.8% of Axecap Investments LLC's portfolio, making the stock its 23rd biggest position.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC purchased a new stake in shares of BNY during the 4th quarter worth $220,000. Sivia Capital Partners LLC boosted its position in shares of BNY by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock worth $309,000 after purchasing an additional 909 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of BNY during the 2nd quarter worth $2,482,000. Treasurer of the State of North Carolina boosted its position in shares of BNY by 1.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock worth $30,466,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. boosted its position in shares of BNY by 11,890.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock worth $109,000 after purchasing an additional 1,189 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BK. JPMorgan Chase & Co. upped their price objective 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. New Street Research set a $143.00 price objective on shares of BNY in a research note on Wednesday, January 14th. Morgan Stanley upped their price objective on shares of BNY from $135.00 to $139.00 and gave the company an "equal weight" rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods upped 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. Finally, TD Cowen upped their price objective on shares of BNY from $133.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.35.

Insider Activity at BNY

In other news, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alejandro Perez sold 12,504 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 62,613 shares of the company's stock, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last 90 days. 0.17% of the stock is owned by corporate insiders.

BNY Price Performance

Shares of NYSE BK opened at $134.10 on Friday. BNY has a fifty-two week low of $77.77 and a fifty-two week high of $139.15. The firm's 50-day simple moving average is $121.70 and its 200 day simple moving average is $116.94. 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 stock has a market cap of $92.29 billion, a P/E ratio of 16.62, a P/E/G ratio of 0.99 and a beta of 1.06.

BNY (NYSE:BK - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. The business 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 revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Equities analysts expect that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY's 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.

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.