BNY $BK Shares Bought by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its BNY stake by 287.7% in the fourth quarter, ending with 13,391 shares valued at about $1.56 million.
• BNY reported strong quarterly earnings, with EPS of $2.25 beating estimates of $1.94 and revenue of $5.41 billion topping expectations. Revenue also rose 12.9% year over year.
• Wall Street remains constructive on BNY, with several analysts raising price targets and the consensus rating sitting at “Moderate Buy” with an average target price of $137.35.

International Assets Investment Management LLC grew its holdings in shares of BNY (NYSE:BK - Free Report) by 287.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,391 shares of the bank's stock after acquiring an additional 9,937 shares during the period. International Assets Investment Management LLC's holdings in BNY were worth $1,555,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Generali Asset Management SPA SGR grew its stake in shares of BNY by 22.4% during the fourth quarter. Generali Asset Management SPA SGR now owns 46,959 shares of the bank's stock valued at $5,451,000 after acquiring an additional 8,582 shares in the last quarter. FSB Premier Wealth Management Inc. lifted its position in shares of BNY by 9.2% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 19,700 shares of the bank's stock worth $2,287,000 after purchasing an additional 1,654 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its position in shares of BNY by 1.3% during the fourth quarter. ASR Vermogensbeheer N.V. now owns 139,347 shares of the bank's stock worth $16,177,000 after purchasing an additional 1,754 shares during the last quarter. MGO One Seven LLC lifted its position in shares of BNY by 46.2% during the fourth quarter. MGO One Seven LLC now owns 24,630 shares of the bank's stock worth $2,859,000 after purchasing an additional 7,787 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its position in shares of BNY by 107.0% during the fourth quarter. Crestwood Advisors Group LLC now owns 4,904 shares of the bank's stock worth $569,000 after purchasing an additional 2,535 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BK shares. Citigroup started coverage on shares of BNY in a research report on Monday, February 23rd. They set a "neutral" rating on the stock. Barclays increased their price target on shares of BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Evercore set a $136.00 price target on shares of BNY in a research report on Friday, April 17th. JPMorgan Chase & Co. increased their price target on shares of BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. One equities research 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 MarketBeat.com, BNY presently has an average rating of "Moderate Buy" and a consensus target price of $137.35.

BNY Stock Performance

Shares of NYSE BK opened at $130.48 on Friday. 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 firm's 50-day moving average price is $123.84 and its two-hundred day moving average price is $118.32. BNY has a 52-week low of $85.69 and a 52-week high of $139.15. The stock has a market capitalization of $89.80 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.96 and a beta of 1.08.

BNY (NYSE:BK - Get Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.14 billion. During the same quarter last year, the company posted $1.58 earnings per share. BNY's revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that BNY will post 8.76 earnings per share for the current year.

BNY Announces Dividend

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. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY's dividend payout ratio (DPR) is currently 26.27%.

Insider Buying and Selling at BNY

In other BNY news, EVP Alejandro Perez sold 12,504 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 62,613 shares of the company's stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction that occurred 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 sale, the vice president directly owned 15,206 shares in the company, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. Insiders own 0.17% of the company's stock.

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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