Kurtis Kurimsky Sells 5,290 Shares of BNY (NYSE:BK) Stock

BNY (NYSE:BK) insider Kurtis Kurimsky sold 5,290 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the sale, the insider owned 17,259 shares in the company, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

BNY Stock Down 1.5%

Shares of BK opened at $135.86 on Thursday. BNY has a 52 week low of $77.48 and a 52 week high of $139.15. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $93.50 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.02 and a beta of 1.06. The stock’s 50-day moving average price is $120.96 and its 200-day moving average price is $116.55.

BNY (NYSE:BK) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm had revenue of $5.41 billion for 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. On average, sell-side analysts predict that BNY will post 8.67 EPS for the current year.

BNY Dividend Announcement

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

Analysts Set New Price Targets

BK has been the topic of a number of recent research reports. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods upped 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. Royal Bank Of Canada upped 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. TD Cowen upped their target price on BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings upgraded BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.35.

Key Stories Impacting BNY

Here are the key news stories impacting BNY this week:

• Positive Sentiment: Analysts have an overall “Moderate Buy” consensus and several recent price-target raises, which supports upside expectations for BK. Analyst Consensus: Moderate Buy
• Positive Sentiment: BNY reported a solid Q1 beat (EPS and revenue ahead of estimates), is paying a quarterly dividend, and management has signaled capital returns (including a large buyback), all of which underpin longer-term investor optimism. Q1 Beat, Dividend and Buyback
• Neutral Sentiment: Institutional ownership remains very high (~85%), and several hedge funds adjusted small positions in the most recent quarter — this suggests moves may be driven more by major holders and corporate-newsflow than retail trading.
• Negative Sentiment: A cluster of insider sales on April 17 (including EVP Alejandro Perez, EVP J. Kevin McCarthy, Kurtis Kurimsky and VP Shannon Hobbs) was disclosed this week; the size and concentration of those disposals can be interpreted negatively by the market. SEC filings: Perez, McCarthy, Kurimsky, Hobbs. Wave of Insider Sales Perez filing McCarthy filing Kurimsky filing Hobbs filing
• Negative Sentiment: Unusual options activity: traders bought ~15,757 put contracts (a ~663% jump over typical daily put volume), signaling elevated hedging or bearish bets that can amplify near-term downside pressure.

Hedge Funds Weigh In On BNY

Hedge funds have recently bought and sold shares of the business. Abound Financial LLC purchased a new position in BNY during the fourth quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BNY during the fourth quarter worth approximately $27,000. MCF Advisors LLC boosted its position in BNY by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Marquette Asset Management LLC boosted its position in BNY by 174.7% during the fourth 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. Finally, Heritage Wealth Advisors purchased a new position in BNY during the fourth quarter worth approximately $31,000. 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.