World Investment Advisors Has $7.80 Million Stock Position in BNY $BK

Key Points

• World Investment Advisors increased its BNY stake by 14.4% in the fourth quarter, buying 9,105 additional shares and bringing its total position to 72,285 shares worth about $7.8 million.
• BNY reported better-than-expected first-quarter earnings, with EPS of $2.25 versus the $1.94 estimate and revenue of $5.41 billion, up 12.9% year over year.
• The company also paid a quarterly dividend of $0.53 per share, while analysts generally remain constructive with an average rating of Moderate Buy and an average price target of $138.08.

World Investment Advisors lifted its stake in shares of BNY (NYSE:BK - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,285 shares of the bank's stock after purchasing an additional 9,105 shares during the quarter. World Investment Advisors' holdings in BNY were worth $7,796,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BNY during the 4th quarter worth $27,000. Marquette Asset Management LLC grew its holdings in shares of BNY by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of BNY during the 3rd quarter worth $33,000. Westside Investment Management Inc. grew its holdings in shares of BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of BNY during the 4th quarter worth $46,000. 85.31% of the stock is owned by institutional investors and hedge funds.

BNY Stock Up 1.2%

Shares of NYSE BK opened at $135.05 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The company has a market cap of $92.95 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.97 and a beta of 1.08. BNY has a 12 month low of $87.41 and a 12 month high of $139.15. The stock has a 50-day moving average price of $124.86 and a two-hundred day moving average price of $119.04.

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

BNY Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on BK. Royal Bank Of Canada increased their target price on BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a report on Friday, April 17th. Morgan Stanley lifted their target price on BNY from $135.00 to $139.00 and gave the company an "equal weight" rating in a research report on Friday, April 17th. Truist Financial boosted their target price on BNY from $140.00 to $148.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods boosted their target price on BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Finally, Citigroup began coverage on BNY in a research note on Monday, February 23rd. They set a "neutral" rating for the company. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $138.08.

Insider Transactions at BNY

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alejandro Perez sold 12,504 shares of the 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 completion of the transaction, the executive vice president owned 62,613 shares of the company's stock, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 over the last three months. Company insiders own 0.17% of the company's stock.

BNY 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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