GRIMES & Co WEALTH MANAGEMENT LLC lifted its stake in shares of BNY (NYSE:BK - Free Report) by 25.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,301 shares of the bank's stock after purchasing an additional 9,123 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in BNY were worth $5,143,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of BNY during the 4th quarter worth approximately $27,000. Marquette Asset Management LLC increased its stake in BNY by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in BNY in the third quarter valued at approximately $33,000. Westside Investment Management Inc. raised its position in BNY by 44.1% during 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 in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in BNY during the fourth quarter worth $46,000. Institutional investors 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 52-week low of $84.54 and a 52-week high of $139.15. The company has a market capitalization of $89.89 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. 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 company has a fifty day moving average of $123.84 and a 200-day moving average of $118.32.
BNY (NYSE:BK - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating 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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the business posted $1.58 EPS. BNY's revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts predict that BNY will post 8.76 EPS for the current fiscal year.
BNY Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Monday, April 27th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, April 27th. BNY's dividend payout ratio is 26.27%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on BK shares. New Street Research set a $143.00 target price on BNY in a report on Wednesday, January 14th. Weiss Ratings upgraded BNY from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday. Royal Bank Of Canada lifted their target price on BNY from $130.00 to $142.00 and gave the company a "sector perform" rating in a research report on Friday, April 17th. Citigroup assumed coverage on BNY in a research note on Monday, February 23rd. They set a "neutral" rating for the company. Finally, Morgan Stanley increased their target price on shares of BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a report on Friday, April 17th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.35.
Get Our Latest Stock Report on BK
Insider Buying and Selling
In other BNY news, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president directly owned 62,613 shares of the company's stock, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the sale, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. 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 quarter. 0.17% of the stock is currently owned by company insiders.
BNY Profile
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Free Report)
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.
Further Reading
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