Kestra Private Wealth Services LLC Has $8.65 Million Stock Position in BNY $BK

Kestra Private Wealth Services LLC grew its position in BNY (NYSE:BK - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,549 shares of the bank's stock after buying an additional 7,828 shares during the quarter. Kestra Private Wealth Services LLC's holdings in BNY were worth $8,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BK. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of BNY in the fourth quarter worth about $27,000. Marquette Asset Management LLC boosted 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 buying an additional 166 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of BNY in the third quarter worth about $33,000. Westside Investment Management Inc. boosted 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 buying an additional 127 shares during the period. Finally, Dunhill Financial LLC boosted its holdings in shares of BNY by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock worth $47,000 after buying an additional 242 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

BNY Stock Performance

Shares of BK opened at $134.39 on Tuesday. The company's 50 day moving average price is $122.03 and its 200 day moving average price is $117.21. BNY has a 52 week low of $77.77 and a 52 week high of $139.15. The company has a market capitalization of $92.49 billion, a PE ratio of 16.65, a PEG ratio of 0.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75.

BNY (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The firm's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. Research analysts expect that BNY will post 8.76 EPS for the current fiscal year.

BNY Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Monday, April 27th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY's payout ratio is 26.27%.

Wall Street Analyst Weigh In

Several brokerages have commented on BK. Citigroup began coverage on shares of BNY in a report on Monday, February 23rd. They issued a "neutral" rating for the company. Barclays raised their target price on shares of BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Truist Financial raised their target price on shares of BNY from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Wells Fargo & Company raised their price target 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BNY from $143.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.35.

Insider Buying and Selling at BNY

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of BNY 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 of the company's stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last three months. 0.17% of the stock is owned by insiders.

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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