Shannon Marie Hobbs Sells 297 Shares of BNY (NYSE:BK) Stock

Key Points

• BNY VP Shannon Marie Hobbs sold 297 shares on April 17 at an average price of $137.05 for $40,703.85, trimming her stake by 1.92% to 15,206 shares (worth about $2.08M).
• BNY beat expectations for the quarter with EPS of $2.25 vs. $1.94 expected and revenue of $5.41B vs. $5.14B, with revenue up 12.9% year‑over‑year and a 14.6% net margin.
• The company declared a quarterly dividend of $0.53 (annualized $2.12) payable May 8 with an ex‑dividend date of April 27, implying a ~1.5% yield.

BNY (NYSE:BK - Get Free Report) VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the transaction, the vice president directly owned 15,206 shares of the company's stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

BNY Price Performance

BK stock traded up $2.60 during mid-day trading on Tuesday, reaching $137.97. 4,522,694 shares of the company traded hands, compared to its average volume of 3,862,232. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. The company has a market capitalization of $94.96 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.07 and a beta of 1.06. BNY has a 52-week low of $75.35 and a 52-week high of $139.15. The company has a fifty day moving average price of $120.45 and a 200-day moving average price of $116.19.

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, beating analysts' consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during 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%.The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. As a group, analysts anticipate that BNY will post 8.52 earnings per share for the current year.

BNY Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, April 27th. BNY's dividend payout ratio is 26.27%.

Analysts Set New Price Targets

BK has been the subject of several research analyst reports. Weiss Ratings upgraded shares of BNY from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, March 11th. Evercore set a $136.00 price objective on shares of BNY in a research report on Friday. Barclays upped their target price on shares of BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday. TD Cowen raised their price target on BNY from $133.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, January 7th. Finally, Morgan Stanley lifted their price target on BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.35.

Institutional Trading of BNY

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC boosted its stake in BNY by 133.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank's stock worth $9,998,000 after buying an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in BNY by 35.1% in 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 purchased a new stake in BNY in the third quarter worth approximately $3,304,000. First Horizon Corp purchased a new stake in BNY in the third quarter worth approximately $22,072,000. Finally, National Pension Service boosted its stake in BNY by 3.1% in the third quarter. National Pension Service now owns 2,053,278 shares of the bank's stock worth $223,725,000 after buying an additional 61,718 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

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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