BNY $BK Shares Purchased by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans increased its BNY stake by 1.1% in the fourth quarter, adding 12,147 shares to reach 1,134,068 shares worth about $131.7 million.
• Wall Street analysts remain constructive on BNY, with a Moderate Buy consensus and an average target price of $138.08; several firms recently raised price targets, including RBC, KBW, and Barclays.
• BNY posted a strong quarter, with EPS of $2.25 beating estimates and revenue of $5.41 billion topping forecasts, while also declaring a quarterly dividend of $0.53 per share.

Thrivent Financial for Lutherans boosted its stake in BNY (NYSE:BK - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,134,068 shares of the bank's stock after acquiring an additional 12,147 shares during the quarter. Thrivent Financial for Lutherans owned 0.16% of BNY worth $131,654,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY during the 4th quarter worth $27,000. Marquette Asset Management LLC boosted its stake in BNY by 174.7% during the 4th 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 BNY during the 3rd quarter worth $33,000. Westside Investment Management Inc. boosted its stake in BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after purchasing an additional 127 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in BNY during the 4th quarter worth $46,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports 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. Weiss Ratings raised shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods lifted their target price on shares of BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Barclays lifted their target price on shares of BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. Finally, Evercore set a $136.00 target price on shares of BNY in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, BNY currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.08.

Insider Buying and Selling

In other news, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction on 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 transaction, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. This represents a 37.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,091 shares of company stock worth $6,568,423 in the last quarter. 0.17% of the stock is currently owned by insiders.

BNY Stock Up 0.6%

NYSE BK opened at $135.82 on Friday. BNY has a 52 week low of $87.41 and a 52 week high of $139.15. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The business's fifty day simple moving average is $125.22 and its 200-day simple moving average is $119.24. The firm has a market cap of $93.48 billion, a PE ratio of 16.83, a P/E/G ratio of 0.99 and a beta of 1.08.

BNY (NYSE:BK - Get Free Report) last posted its quarterly 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 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 quarter in the previous year, the firm earned $1.58 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that BNY will post 8.78 earnings per share for the current year.

BNY Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, April 27th. BNY's payout ratio is currently 26.27%.

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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