Qsemble Capital Management LP Acquires New Stake in BNY $BK

Key Points

• Qsemble Capital Management opened a new position in BNY during the fourth quarter, buying 69,624 shares valued at about $8.1 million.
• Several analysts turned more positive on BNY, with firms including Barclays, Truist, and Keefe, Bruyette & Woods raising price targets; the stock now has a Moderate Buy consensus and an average target of $138.08.
• BNY reported strong quarterly results, beating EPS and revenue estimates, while also paying a quarterly dividend of $0.53 per share for a 1.6% yield.

Qsemble Capital Management LP acquired a new stake in shares of BNY (NYSE:BK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 69,624 shares of the bank's stock, valued at approximately $8,083,000.

A number of other large investors have also recently added to or reduced their stakes in the business. AlphaCore Capital LLC boosted its holdings in BNY by 22.5% during the fourth quarter. AlphaCore Capital LLC now owns 3,764 shares of the bank's stock worth $437,000 after buying an additional 692 shares in the last quarter. DNB Asset Management AS boosted its holdings in BNY by 1.2% during the fourth quarter. DNB Asset Management AS now owns 145,157 shares of the bank's stock worth $16,851,000 after buying an additional 1,765 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in BNY by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after buying an additional 19,561,793 shares in the last quarter. Phoenix Financial Ltd. bought a new stake in BNY during the fourth quarter worth approximately $266,000. Finally, Thrivent Financial for Lutherans boosted its holdings in BNY by 1.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,134,068 shares of the bank's stock worth $131,654,000 after buying an additional 12,147 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BK. 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. Keefe, Bruyette & Woods raised their target price on shares of BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Royal Bank Of Canada raised their target price on shares of BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a report on Friday, April 17th. Finally, Weiss Ratings upgraded shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. One equities 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 company. According to data from MarketBeat, BNY has a consensus rating of "Moderate Buy" and a consensus price target of $138.08.

Insider Activity

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president directly owned 15,206 shares of the company's stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by company insiders.

BNY Trading Down 0.8%

NYSE BK opened at $134.89 on Friday. BNY has a twelve month low of $87.41 and a twelve month high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $92.84 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.99 and a beta of 1.08. The firm's 50 day moving average price is $125.55 and its two-hundred day moving average price is $119.35.

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

BNY Dividend Announcement

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

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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