Swedbank AB Increases Stock Holdings in BNY $BK

Key Points

• Swedbank AB increased its stake in BNY by 2.0% in Q4, buying 17,157 shares to hold 886,883 shares worth about $102.96 million (≈0.13% of the company).
• BNY beat expectations for the quarter with $2.25 EPS vs. $1.94 expected and $5.41B revenue vs. $5.14B expected, and declared a $0.53 quarterly dividend (annualized $2.12, yield 1.6%, payable May 8).
• Insiders sold 48,091 shares worth $6.57 million over the past three months (including sales by VP Shannon Hobbs and EVP Alejandro Perez), while analysts hold a consensus Moderate Buy rating with an average target of $137.35.

Swedbank AB lifted its position in shares of BNY (NYSE:BK - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 886,883 shares of the bank's stock after buying an additional 17,157 shares during the quarter. Swedbank AB owned approximately 0.13% of BNY worth $102,958,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BK. Ashton Thomas Private Wealth LLC lifted its stake in BNY by 133.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank's stock valued at $9,998,000 after buying an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp increased its position in BNY by 35.1% during the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank's stock worth $3,487,000 after buying an additional 8,277 shares in the last quarter. First National Advisers LLC acquired a new position in shares of BNY in the third quarter worth $3,304,000. First Horizon Corp purchased a new stake in shares of BNY in the third quarter valued at $22,072,000. Finally, National Pension Service boosted its stake in shares of BNY by 3.1% during the third quarter. National Pension Service now owns 2,053,278 shares of the bank's stock valued at $223,725,000 after acquiring an additional 61,718 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the 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 owned 15,206 shares of the company's stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,091 shares of company stock worth $6,568,423 over the last three months. Insiders own 0.17% of the company's stock.

BNY Trading Up 1.1%

NYSE:BK opened at $133.80 on Thursday. The business's 50-day moving average is $123.56 and its two-hundred day moving average is $118.15. The firm has a market capitalization of $92.09 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. BNY has a 12 month low of $82.91 and a 12 month high of $139.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71.

BNY (NYSE:BK - Get Free Report) last issued its earnings results 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 return on equity of 15.29% and a net margin of 14.60%.The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The company's revenue was up 12.9% compared to the same quarter last year. Research analysts predict that BNY will post 8.76 earnings per share for the current fiscal year.

BNY Dividend Announcement

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

Wall Street Analyst Weigh In

BK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a research 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. Citigroup assumed coverage on shares of BNY in a report on Monday, February 23rd. They set a "neutral" rating for the company. New Street Research set a $143.00 price objective on shares of BNY in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company upped their price objective on shares of BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.35.

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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