Resona Asset Management Co. Ltd. Sells 13,315 Shares of BNY $BK

Resona Asset Management Co. Ltd. trimmed its holdings in BNY (NYSE:BK - Free Report) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,794 shares of the bank's stock after selling 13,315 shares during the period. Resona Asset Management Co. Ltd.'s holdings in BNY were worth $25,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors 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 valued at $27,000. Marquette Asset Management LLC lifted its stake in shares of BNY by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after buying an additional 166 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of BNY in the third quarter valued at $33,000. Westside Investment Management Inc. lifted 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 valued at $45,000 after purchasing an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of BNY in the fourth quarter valued at approximately $46,000. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BK. Barclays raised their target price on BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Citigroup began coverage on BNY in a report on Monday, February 23rd. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. raised their target price on BNY from $130.50 to $140.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Morgan Stanley raised 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, Evercore set a $136.00 price target on shares of BNY in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $138.08.

BNY Stock Performance

Shares of BNY stock opened at $136.15 on Wednesday. The business's fifty day simple moving average is $126.36 and its 200 day simple moving average is $119.84. The firm has a market capitalization 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 12 month low of $87.41 and a 12 month high of $139.15. 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 (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates 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 company posted $1.58 earnings per share. As a group, analysts anticipate that BNY will post 8.78 EPS for the current year.

BNY Announces Dividend

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

Insiders Place Their Bets

In other BNY news, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction dated 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 sale, the executive vice president owned 62,613 shares of the company's stock, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This represents a 37.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by insiders.

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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