BNY $BK Shares Bought by World Investment Advisors

Key Points

• World Investment Advisors boosted its stake in BNY by 14.4% in Q4, buying 9,105 shares to hold 72,285 shares worth about $8.39 million.
• BNY beat expectations in its April 16 earnings release, reporting EPS $2.25 vs. $1.94 expected and revenue of $5.41 billion, up 12.9% year-over-year.
• The bank declared a quarterly dividend of $0.53 ($2.12 annualized) with an ex-dividend date of April 27 (yield ~1.6%), while analysts carry a consensus "Moderate Buy" rating with a $137.35 price target.

World Investment Advisors boosted its position in shares of BNY (NYSE:BK - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,285 shares of the bank's stock after buying an additional 9,105 shares during the quarter. World Investment Advisors' holdings in BNY were worth $8,391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new stake in BNY during the fourth quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BNY during the fourth quarter worth about $27,000. MCF Advisors LLC boosted its position in BNY by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank's stock worth $27,000 after acquiring an additional 101 shares during the last quarter. Marquette Asset Management LLC boosted its position in 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 acquiring an additional 166 shares during the last quarter. Finally, Heritage Wealth Advisors acquired a new position in BNY during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 85.31% of the company's stock.

BNY Stock Down 2.3%

Shares of NYSE:BK opened at $130.61 on Friday. BNY has a 1-year low of $84.54 and a 1-year high of $139.15. The stock has a market cap of $89.89 billion, a P/E ratio of 16.18, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. The firm has a fifty day moving average price of $123.84 and a 200 day moving average price of $118.32.

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

BNY Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, April 27th. BNY's dividend payout ratio (DPR) is 26.27%.

Insider Activity

In related 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 completion of the sale, the executive vice president owned 62,613 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider owned 17,259 shares of the company's stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last quarter. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BK. Royal Bank Of Canada lifted their target price on shares of BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a research note on Friday, April 17th. Truist Financial boosted their price target on shares of BNY from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Barclays lifted their price objective on shares of BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Evercore set a $136.00 price target on shares of BNY in a report on Friday, April 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, BNY currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.35.

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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