BNY $BK Shares Sold by Strs Ohio

Key Points

• Strs Ohio trimmed its stake in BNY by 6.9%, selling 22,959 shares in Q4 and now holds 307,914 shares valued at about $35.75 million; institutional investors own 85.31% of the stock.
• BNY beat quarterly estimates, reporting $2.25 EPS versus $1.94 expected and $5.41 billion in revenue (up 12.9% YoY), and analysts maintain a "Moderate Buy" consensus with a $137.35 average price target.
• Company insiders sold 48,091 shares over the past 90 days — including EVP J. Kevin McCarthy (30,000 shares) and EVP Alejandro Perez (12,504 shares) — reducing insider ownership to 0.17%.

Strs Ohio lowered its position in shares of BNY (NYSE:BK - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,914 shares of the bank's stock after selling 22,959 shares during the quarter. Strs Ohio's holdings in BNY were worth $35,746,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Ransom Advisory Ltd boosted its holdings in BNY by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank's stock worth $787,000 after purchasing an additional 85 shares during the period. Mather Group LLC. raised its holdings in shares of BNY by 0.9% during the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank's stock worth $1,072,000 after purchasing an additional 86 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of BNY by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank's stock worth $821,000 after purchasing an additional 94 shares during the period. Ferguson Wellman Capital Management Inc. lifted its position in shares of BNY by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank's stock worth $2,697,000 after buying an additional 96 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its position in shares of BNY by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank's stock worth $414,000 after buying an additional 98 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BK. Weiss Ratings raised shares of BNY from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, March 11th. TD Cowen raised their target price on shares of BNY from $133.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, January 7th. Truist Financial upped their target price on BNY from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, April 17th. Citigroup began coverage on BNY in a research report on Monday, February 23rd. They set a "neutral" rating on the stock. Finally, Evercore set a $136.00 price target on BNY in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, BNY currently has an average rating of "Moderate Buy" and a consensus price target of $137.35.

BNY Trading Down 0.4%

Shares of BNY stock opened at $133.81 on Friday. The business has a fifty day simple moving average of $122.91 and a 200-day simple moving average of $117.72. BNY has a fifty-two week low of $81.12 and a fifty-two week high of $139.15. The firm has a market cap of $92.09 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

BNY (NYSE:BK - Get Free Report) last issued 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 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 period in the previous year, the business earned $1.58 earnings per share. BNY's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors 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 is Monday, April 27th. BNY's payout ratio is presently 26.27%.

Insider Buying and Selling at BNY

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of the company's 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 of the company's stock, valued at approximately $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction on 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last ninety days. Company 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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