BNY $BK Shares Acquired by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas increased its stake in BNY by 31.0% in Q4, buying an additional 78,037 shares to hold 329,861 shares worth about $38.29 million.
• BNY posted a quarterly EPS beat of $2.25 versus $1.94 expected and revenue of $5.41 billion (up 12.9% year-over-year), signaling stronger-than-expected operating results.
• The company declared a quarterly dividend of $0.53 per share (1.6% yield, payable May 8) and holds a MarketBeat consensus of “Moderate Buy” with an average price target of $137.35.

Teacher Retirement System of Texas lifted its stake in shares of BNY (NYSE:BK - Free Report) by 31.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 329,861 shares of the bank's stock after buying an additional 78,037 shares during the period. Teacher Retirement System of Texas' holdings in BNY were worth $38,294,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Revolve Wealth Partners LLC acquired a new stake in shares of BNY during the fourth quarter worth $220,000. Sivia Capital Partners LLC lifted its stake in shares of BNY by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock worth $309,000 after buying an additional 909 shares during the period. Jump Financial LLC purchased a new position in shares of BNY during the second quarter worth $2,482,000. Treasurer of the State of North Carolina raised its holdings in shares of BNY by 1.7% during the second 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 during the last quarter. Finally, Osterweis Capital Management Inc. raised its holdings in shares of BNY by 11,890.0% during the second 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 during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

BNY Stock Down 0.3%

BK stock opened at $135.43 on Friday. The firm has a market cap of $93.21 billion, a PE ratio of 16.78, a P/E/G ratio of 1.00 and a beta of 1.06. 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's fifty day moving average is $121.37 and its 200 day moving average is $116.68. BNY has a one year low of $77.49 and a one year high of $139.15.

BNY (NYSE:BK - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The firm's revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $1.58 earnings per share. On average, research analysts forecast that BNY will post 8.72 EPS for the current year.

BNY Announces Dividend

The company 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%.

Analyst Ratings Changes

Several brokerages recently issued reports on BK. Barclays raised their target price on shares of BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Keefe, Bruyette & Woods raised their target price on shares of BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Morgan Stanley raised their target price on shares of BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a report on Friday, April 17th. JPMorgan Chase & Co. raised their target price on shares of BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. Finally, New Street Research set a $143.00 target price on shares of BNY in a report on Wednesday, January 14th. One research 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.35.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the sale, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the firm's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. 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 ninety days. Corporate insiders own 0.17% 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.

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