Handelsbanken Fonder AB Buys 30,229 Shares of BNY $BK

Key Points

• Handelsbanken Fonder AB increased its BNY stake by 10.1% in the fourth quarter, buying 30,229 additional shares and bringing its total holdings to 329,257 shares valued at about $38.2 million.
• BNY reported strong quarterly results, with earnings of $2.25 per share and revenue of $5.41 billion, both ahead of analyst expectations. Revenue rose 12.9% year over year.
• The company remains supported by institutions and dividend income, with institutional investors owning 85.31% of shares and BNY paying a quarterly dividend of $0.53, equal to a 1.6% annualized yield.

Handelsbanken Fonder AB boosted its stake in shares of BNY (NYSE:BK - Free Report) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 329,257 shares of the bank's stock after purchasing an additional 30,229 shares during the quarter. Handelsbanken Fonder AB's holdings in BNY were worth $38,223,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of BNY by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after acquiring an additional 647,847 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of BNY by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the period. Ameriprise Financial Inc. boosted its position in shares of BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of BNY by 639.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock valued at $771,080,000 after acquiring an additional 6,119,749 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of BNY by 1.5% in the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank's stock valued at $488,564,000 after acquiring an additional 66,010 shares during the period. Institutional investors own 85.31% of the company's stock.

BNY Stock Down 0.3%

Shares of BK stock opened at $136.15 on Wednesday. The stock has a market cap of $93.70 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.00 and a beta of 1.08. BNY has a one year low of $87.41 and a one year high of $139.15. The stock has a fifty day moving average price of $126.36 and a 200 day moving average price of $119.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

BNY (NYSE:BK - Get Free Report) last issued its 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. The firm had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.BNY's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $1.58 earnings per share. Analysts predict that BNY will post 8.78 earnings per share for the current year.

BNY Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, April 27th. BNY's dividend payout ratio (DPR) is 26.27%.

Insider Transactions at BNY

In other BNY news, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the 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 $6,857,487. This represents 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 ninety days. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BK shares. JPMorgan Chase & Co. increased their price objective on BNY from $130.50 to $140.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Truist Financial increased their price objective on BNY from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Morgan Stanley increased their price objective on BNY from $135.00 to $139.00 and gave the company an "equal weight" rating in a research report on Friday, April 17th. Barclays increased their price objective on BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Finally, Citigroup started coverage on BNY in a research report on Monday, February 23rd. They issued a "neutral" rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, BNY presently has an average rating of "Moderate Buy" and an average price target of $138.08.

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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