Kepler Cheuvreux Suisse SA Takes Position in BNY $BK

Key Points

• Kepler Cheuvreux Suisse SA opened a new position in BNY during the fourth quarter, buying 134,663 shares worth about $15.6 million.
• BNY reported strong first-quarter results, with earnings of $2.25 per share beating estimates and revenue of $5.41 billion coming in ahead of expectations. Revenue rose 12.9% year over year.
• The company also paid a quarterly dividend of $0.53 per share, equal to an annualized yield of 1.6%, while analysts currently hold a Moderate Buy consensus on the stock.

Kepler Cheuvreux Suisse SA purchased a new position in BNY (NYSE:BK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 134,663 shares of the bank's stock, valued at approximately $15,633,000.

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of BNY in the fourth quarter worth about $27,000. Marquette Asset Management LLC grew its holdings in shares of BNY by 174.7% in 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 during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of BNY in the third quarter worth about $33,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of BNY in the fourth quarter worth about $46,000. Finally, Westside Investment Management Inc. grew its holdings in shares of BNY by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after purchasing an additional 127 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

BNY Price Performance

NYSE:BK opened at $130.48 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap 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. The company has a 50 day moving average price of $123.84 and a 200-day moving average price of $118.32. BNY has a 1-year low of $85.69 and a 1-year high of $139.15.

BNY (NYSE:BK - Get Free Report) last posted its earnings results 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. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Equities research analysts forecast that BNY will post 8.76 EPS for the current year.

BNY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a $0.53 dividend. 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 currently 26.27%.

Insider Activity at BNY

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of BNY stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the sale, the insider owned 17,259 shares of the company's stock, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the sale, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their position. The SEC filing for this sale provides additional information. 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 owned by insiders.

Wall Street Analyst Weigh In

BK has been the topic of a number of research analyst reports. Citigroup started coverage on shares of BNY in a report on Monday, February 23rd. They issued a "neutral" rating on the stock. Truist Financial lifted their price objective on BNY from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, April 17th. Evercore set a $136.00 target price on shares of BNY in a report on Friday, April 17th. Weiss Ratings upgraded shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. Finally, Wells Fargo & Company increased their target price on shares of BNY from $119.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 14th. 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.