Banque Cantonale Vaudoise Sells 10,512 Shares of BNY $BK

Key Points

• Banque Cantonale Vaudoise cut its BNY stake by 20.1% in the fourth quarter, selling 10,512 shares and leaving it with 41,834 shares valued at about $4.86 million.
• BNY’s recent earnings beat expectations, with quarterly EPS of $2.25 versus the $1.94 consensus and revenue of $5.41 billion, up 12.9% year over year.
• Analysts remain constructive on the stock, with a “Moderate Buy” consensus and an average price target of $138.08, while BNY recently traded near $136.15 and also paid a quarterly dividend of $0.53 per share.

Banque Cantonale Vaudoise reduced its stake in BNY (NYSE:BK - Free Report) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,834 shares of the bank's stock after selling 10,512 shares during the period. Banque Cantonale Vaudoise's holdings in BNY were worth $4,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BNY in the fourth quarter valued at about $27,000. Marquette Asset Management LLC grew its stake in 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 during the period. Valley Wealth Managers Inc. acquired a new position in BNY in the third quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in BNY in the fourth quarter valued at about $46,000. Finally, Westside Investment Management Inc. grew its stake in 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 during the period. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research analyst reports. Truist Financial boosted their target price on BNY from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Citigroup began coverage on BNY in a report on Monday, February 23rd. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. boosted their price target on BNY from $130.50 to $140.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Evercore set a $136.00 price target on BNY in a report on Friday, April 17th. Finally, Weiss Ratings upgraded BNY from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, BNY presently has an average rating of "Moderate Buy" and an average target price of $138.08.

BNY Price Performance

Shares of NYSE BK opened at $136.15 on Wednesday. The business's 50 day moving average price is $126.36 and its two-hundred day moving average price is $119.84. The company has a market cap of $93.70 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.00 and a beta of 1.08. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. BNY has a twelve month low of $87.41 and a twelve month high of $139.15.

BNY (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping 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 firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business earned $1.58 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that BNY will post 8.78 EPS for the current year.

BNY Dividend Announcement

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

Insiders Place Their Bets

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the sale, the executive vice president owned 50,238 shares of the company's stock, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction 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 completion of the transaction, the executive vice president 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. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by company insiders.

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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