BNY $BK Stock Holdings Increased by Danske Bank A S

Key Points

• Danske Bank A/S raised its stake in BNY by 22% to 738,730 shares (an additional 133,249 shares), now owning about 0.11% of the company worth roughly $85.76 million.
• BNY beat quarterly expectations with EPS $2.25 vs. $1.94 consensus and revenue of $5.41 billion (+12.9% YoY); analysts' consensus rating is "Moderate Buy" with a $137.35 target price.
• The company declared a quarterly dividend of $0.53 (annualized $2.12, yield 1.6%; ex-dividend April 27, payable May 8), while insiders sold 48,091 shares (~$6.57M) in the past 90 days and now hold 0.17% of the stock.

Danske Bank A S raised its holdings in shares of BNY (NYSE:BK - Free Report) by 22.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,730 shares of the bank's stock after acquiring an additional 133,249 shares during the period. Danske Bank A S owned approximately 0.11% of BNY worth $85,759,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BK. Thurston Springer Miller Herd & Titak Inc. bought a new stake in BNY during the 4th quarter valued at $27,000. Marquette Asset Management LLC raised its stake in BNY by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in BNY during the 3rd quarter valued at $33,000. Westside Investment Management Inc. raised its stake in BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after acquiring an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in BNY during the 4th quarter valued at $46,000. Institutional investors own 85.31% of the company's stock.

BNY Stock Up 1.7%

BK opened at $134.52 on Friday. BNY has a one year low of $79.72 and a one year high of $139.15. 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 fifty day moving average is $122.91 and its 200-day moving average is $117.64. The company has a market capitalization of $92.58 billion, a PE ratio of 16.67, a P/E/G ratio of 0.97 and a beta of 1.06.

BNY (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

The company also recently disclosed 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 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 currently 26.27%.

Analysts Set New Price Targets

Several brokerages have weighed in on BK. JPMorgan Chase & Co. lifted their target price on BNY from $128.50 to $130.50 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. TD Cowen lifted their target price on BNY from $133.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, January 7th. Wells Fargo & Company lifted their target price on BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 14th. Citigroup began coverage on BNY in a research note on Monday, February 23rd. They set a "neutral" rating on the stock. Finally, Truist Financial lifted their target price on BNY from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.35.

Insider Transactions at BNY

In related news, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president directly owned 62,613 shares in the company, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of BNY stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares in the company, valued at $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

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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