Ethic Inc. Grows Stock Holdings in BNY $BK

Key Points

• Ethic Inc. increased its BNY stake by 5.6% in the fourth quarter, buying 10,200 more shares and bringing its total to 193,196 shares valued at about $22.4 million.
• BNY reported better-than-expected first-quarter earnings, with EPS of $2.25 versus $1.94 expected and revenue of $5.41 billion, up 12.9% year over year.
• The bank also paid a quarterly dividend of $0.53 per share, equal to an annualized yield of 1.6%, while analysts currently rate the stock a Moderate Buy with an average target price of $137.35.

Ethic Inc. grew its position in BNY (NYSE:BK - Free Report) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,196 shares of the bank's stock after buying an additional 10,200 shares during the quarter. Ethic Inc.'s holdings in BNY were worth $22,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BK. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BNY in the 4th quarter valued at about $27,000. Marquette Asset Management LLC lifted its position 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 in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of BNY during the third quarter worth about $33,000. Westside Investment Management Inc. boosted its stake in shares of BNY by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after purchasing an additional 127 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of BNY in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

BNY Stock Down 0.2%

Shares of NYSE BK opened at $130.48 on Friday. The business has a 50-day moving average of $123.84 and a two-hundred day moving average of $118.32. The company has a market capitalization of $89.80 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. BNY has a 1 year low of $85.69 and a 1 year high of $139.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71.

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

BNY Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY's dividend payout ratio (DPR) is presently 26.27%.

Insider Activity at BNY

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares of the company's stock, valued at approximately $2,083,982.30. The trade was a 1.92% 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 90 days. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BK has been the topic of a number of research reports. Royal Bank Of Canada increased their target price on shares of BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a report on Friday, April 17th. Morgan Stanley boosted their price target on shares of BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Friday, April 17th. JPMorgan Chase & Co. upped their price objective on BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. New Street Research set a $143.00 price objective on BNY in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their target price on BNY from $143.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, BNY presently has an average rating of "Moderate Buy" and an average target price of $137.35.

BNY 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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