VIRGINIA RETIREMENT SYSTEMS ET Al Buys 9,400 Shares of BNY $BK

Key Points

• Virginia Retirement Systems et al increased its BNY stake by 1.9% in the fourth quarter, buying 9,400 more shares and bringing its holdings to 500,159 shares worth about $58.1 million.
• Several analysts turned more positive on BNY, with price targets raised by JPMorgan, Wells Fargo, and RBC; the stock now has a Moderate Buy consensus and an average target price of $138.08.
• BNY reported strong quarterly results, posting EPS of $2.25 versus $1.94 expected and revenue of $5.41 billion, while also paying a quarterly dividend of $0.53 per share for a 1.6% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in BNY (NYSE:BK - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 500,159 shares of the bank's stock after purchasing an additional 9,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of BNY worth $58,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Ransom Advisory Ltd grew its stake in BNY by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank's stock valued at $787,000 after purchasing an additional 85 shares in the last quarter. Mather Group LLC. grew its stake in BNY by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank's stock valued at $1,072,000 after purchasing an additional 86 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in BNY by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank's stock valued at $821,000 after purchasing an additional 94 shares in the last quarter. Vectors Research Management LLC grew its stake in BNY by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank's stock valued at $1,507,000 after purchasing an additional 94 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in BNY by 2.6% in the third quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank's stock valued at $414,000 after purchasing an additional 98 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on BNY from $130.50 to $140.00 and gave the stock an "overweight" rating in a research note on Monday. Wells Fargo & Company lifted their target price on BNY from $119.00 to $122.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 14th. Citigroup assumed coverage on BNY in a research note on Monday, February 23rd. They set a "neutral" rating for the company. Weiss Ratings upgraded BNY from a "buy (a-)" rating to a "buy (a)" rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada lifted their target price on BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a research note on Friday, April 17th. One 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 stock. Based on data from MarketBeat, BNY presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.08.

BNY Stock Performance

NYSE:BK opened at $133.48 on Wednesday. The stock has a market cap of $91.86 billion, a P/E ratio of 16.54, a PEG ratio of 0.97 and a beta of 1.08. The stock has a 50 day simple moving average of $124.55 and a 200 day simple moving average of $118.84. 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 1-year low of $86.97 and a 1-year high of $139.15.

BNY (NYSE:BK - Get Free Report) last released its quarterly 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. The business had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.58 EPS. Research analysts anticipate that BNY will post 8.76 earnings per share for the current year.

BNY Announces Dividend

The company 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 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, April 27th. BNY's dividend payout ratio (DPR) is presently 26.27%.

Insider Transactions at BNY

In related news, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction that occurred on 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 of the company's stock, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of BNY stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares of the company's stock, valued at $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by company insiders.

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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