Poehling Capital Management INC. Decreases Stock Holdings in BNY $BK

Key Points

• Poehling Capital Management cut its BNY stake by 48.9% in the fourth quarter, leaving it with 24,112 shares valued at about $2.8 million.
• BNY reported stronger-than-expected quarterly results, posting EPS of $2.25 versus the $1.94 consensus and revenue of $5.41 billion, up 12.9% year over year.
• Insiders recently sold shares, including Kurtis R. Kurimsky and Alejandro Perez, while analysts currently rate the stock a “Moderate Buy” with an average price target of $138.08.

Poehling Capital Management INC. decreased its holdings in BNY (NYSE:BK - Free Report) by 48.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,112 shares of the bank's stock after selling 23,032 shares during the quarter. Poehling Capital Management INC.'s holdings in BNY were worth $2,799,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BNY in the 4th quarter worth about $27,000. Marquette Asset Management LLC raised its position in BNY by 174.7% in the 4th 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 last quarter. Valley Wealth Managers Inc. purchased a new position in BNY in the 3rd quarter worth about $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in BNY in the 4th quarter worth about $46,000. Finally, Westside Investment Management Inc. raised its position in BNY by 44.1% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the business's stock in a transaction that occurred 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 approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alejandro Perez sold 12,504 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares of the company's stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 48,091 shares of company stock valued at $6,568,423. Insiders own 0.17% of the company's stock.

BNY Trading Down 0.3%

Shares of NYSE:BK opened at $136.15 on Wednesday. The stock has a 50 day moving average of $126.36 and a 200 day moving average of $119.84. The company has a market cap of $93.70 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.00 and a beta of 1.08. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. BNY has a 12-month low of $87.41 and a 12-month high of $139.15.

BNY (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 EPS. As a group, equities research analysts expect that BNY will post 8.78 EPS for the current year.

BNY Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on BK. Evercore set a $136.00 price target on shares of BNY in a research report on Friday, April 17th. Keefe, Bruyette & Woods upped their price target 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. Citigroup began coverage on shares of BNY in a research report on Monday, February 23rd. They set a "neutral" rating for the company. Morgan Stanley upped their price target on shares of BNY from $135.00 to $139.00 and gave the company an "equal weight" rating in a research report on Friday, April 17th. Finally, Royal Bank Of Canada upped their price target on shares of BNY from $130.00 to $142.00 and gave the company a "sector perform" rating in a research report on Friday, April 17th. One research 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. According to data from MarketBeat.com, BNY currently has an average rating of "Moderate Buy" and an average price target of $138.08.

About BNY

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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