BNY $BK Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors raised its stake in BNY by 16.6% in Q4, buying 9,635 shares to hold 67,822 shares worth about $7.87 million, while other institutions (notably UBS, Ameriprise, AQR and Vanguard) also materially increased positions and institutional ownership stands at 85.31%.
• BNY beat earnings expectations last quarter with EPS of $2.25 vs. $1.94 expected and revenue of $5.41 billion (up 12.9% YoY), with a market cap around $89.9 billion and a PE of 16.18.
• Insiders have been net sellers (48,091 shares sold in the past 90 days, including an EVP sale of 30,000 shares), even as the company declared a quarterly dividend of $0.53 ($2.12 annual, ~1.6% yield) payable May 8 (ex-dividend Apr 27).

Sequoia Financial Advisors LLC raised its stake in BNY (NYSE:BK - Free Report) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,822 shares of the bank's stock after purchasing an additional 9,635 shares during the period. Sequoia Financial Advisors LLC's holdings in BNY were worth $7,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of BNY by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock valued at $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of BNY by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of BNY by 29.1% in the 3rd quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank's stock valued at $438,418,000 after acquiring an additional 906,218 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of BNY in the 4th quarter valued at about $95,002,000. Finally, Vanguard Group Inc. increased its holdings in shares of BNY by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Buying and Selling

In related news, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president directly owned 15,206 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares of the company's stock, valued at $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by insiders.

BNY Stock Down 2.3%

BNY stock opened at $130.61 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. BNY has a 1-year low of $84.54 and a 1-year high of $139.15. The company has a market cap of $89.89 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The stock's 50 day moving average price is $123.84 and its 200 day moving average price is $118.32.

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

BNY Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be 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 is Monday, April 27th. BNY's payout ratio is 26.27%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings raised BNY from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday. Citigroup assumed coverage on BNY in a research report on Monday, February 23rd. They set a "neutral" rating on the stock. Truist Financial lifted their price target on BNY from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. New Street Research set a $143.00 price target on BNY in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada lifted their price target on BNY from $130.00 to $142.00 and gave the stock a "sector perform" 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 given a Hold rating to the company. According to data from MarketBeat, BNY presently has a consensus rating of "Moderate Buy" and an average target price of $137.35.

BNY 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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