BNY $BK Shares Bought by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in BNY by 5.9%, buying 126,734 shares to own 2,267,092 shares (~0.33% of the company) valued at about $263.2 million.
• BNY beat expectations, reporting $2.25 EPS vs. $1.94 consensus and revenue of $5.41 billion, a 12.9% year-over-year increase.
• BNY announced a quarterly dividend of $0.53 per share (annualized $2.12, 1.6% yield) payable May 8, while insiders have sold 48,091 shares (~$6.57 million) over the last 90 days.

Truist Financial Corp raised its position in BNY (NYSE:BK - Free Report) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,267,092 shares of the bank's stock after purchasing an additional 126,734 shares during the period. Truist Financial Corp owned about 0.33% of BNY worth $263,187,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY during the 4th quarter valued at $27,000. Marquette Asset Management LLC boosted its holdings in shares of BNY by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of BNY during the third quarter worth $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of BNY during the fourth quarter worth $46,000. Finally, Westside Investment Management Inc. raised its position in shares of BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

BNY Stock Up 0.0%

Shares of NYSE BK opened at $133.81 on Monday. BNY has a 1 year low of $81.12 and a 1 year high of $139.15. The firm has a market cap of $92.09 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.98 and a beta of 1.08. 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 stock's 50-day simple moving average is $122.91 and its 200-day simple moving average is $117.79.

BNY (NYSE:BK - Get Free Report) last announced 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 return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the company earned $1.58 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that BNY will post 8.76 earnings per share for the current fiscal year.

BNY Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be given a dividend of $0.53 per share. 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 presently 26.27%.

Insider Transactions at BNY

In related news, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction dated 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 completion of the transaction, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction dated 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 owned 15,206 shares of the company's stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup assumed coverage on BNY in a research report on Monday, February 23rd. They issued a "neutral" rating on the stock. Barclays increased their target price on BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. New Street Research set a $143.00 target price on BNY in a research report on Wednesday, January 14th. Weiss Ratings raised BNY from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, March 11th. Finally, TD Cowen raised their price objective on BNY from $133.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $137.35.

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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