Tweedy Browne Co LLC Sells 11,648 Shares of BNY $BK

Key Points

• Tweedy Browne reduced its stake in BNY by 8.4%, selling 11,648 shares and now owns 127,393 shares worth about $14.79 million, representing roughly 1.2% of the firm's holdings and its 19th largest position.
• Insiders have been sellers: Kurtis R. Kurimsky sold 5,290 shares and EVP Alejandro Perez sold 12,504 shares on April 17, and insiders have sold 48,091 shares (~$6.57M) in the past 90 days while now owning 0.17% of the company.
• BNY reported an earnings beat (Q: $2.25 EPS vs. $1.94 est.), declared a $0.53 quarterly dividend (annualized $2.12, ~1.6% yield), and carries an analyst consensus of "Moderate Buy" with an average price target of $137.35.

Tweedy Browne Co LLC lowered its stake in shares of BNY (NYSE:BK - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,393 shares of the bank's stock after selling 11,648 shares during the quarter. BNY comprises approximately 1.2% of Tweedy Browne Co LLC's holdings, making the stock its 19th largest holding. Tweedy Browne Co LLC's holdings in BNY were worth $14,789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in BNY during the fourth quarter valued at about $27,000. Marquette Asset Management LLC increased its stake in BNY by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after acquiring an additional 166 shares during the period. Valley Wealth Managers Inc. bought a new stake in BNY in the 3rd quarter valued at $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in BNY in the 4th quarter valued at $46,000. Finally, Westside Investment Management Inc. increased its holdings in BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after buying an additional 127 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BK shares. Weiss Ratings raised shares of BNY from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, March 11th. Morgan Stanley boosted their price target on shares of BNY from $135.00 to $139.00 and gave the company an "equal weight" rating in a report on Friday, April 17th. Evercore set a $136.00 price target on shares of BNY in a report on Friday, April 17th. Wells Fargo & Company boosted their price target on shares of BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a report on Wednesday, January 14th. Finally, Barclays upped their price objective on BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $137.35.

Insiders Place Their Bets

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the 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 sale, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This represents a 23.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was 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 in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,091 shares of company stock valued at $6,568,423 in the last 90 days. Insiders own 0.17% of the company's stock.

BNY Stock Down 1.6%

BK opened at $131.67 on Tuesday. The firm's 50-day simple moving average is $122.91 and its 200-day simple moving average is $117.79. 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 has a twelve month low of $81.12 and a twelve month high of $139.15. The firm has a market cap of $90.62 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.98 and a beta of 1.08.

BNY (NYSE:BK - Get Free Report) last posted 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 net margin of 14.60% and a return on equity of 15.29%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be given a dividend of $0.53 per share. 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 dividend payout ratio is 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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