BNY $BK Stake Trimmed by Strs Ohio

Strs Ohio lessened its stake in shares of BNY (NYSE:BK) by 6.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 307,914 shares of the bank’s stock after selling 22,959 shares during the quarter. Strs Ohio’s holdings in BNY were worth $35,746,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in BNY by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after purchasing an additional 647,847 shares during the period. Ameriprise Financial Inc. raised its stake in BNY by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in BNY by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after purchasing an additional 6,119,749 shares during the period. First Trust Advisors LP lifted its holdings in shares of BNY by 1.5% in the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock valued at $488,564,000 after purchasing an additional 66,010 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of BNY by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after purchasing an additional 906,218 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BK shares. TD Cowen lifted their price target on BNY from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings raised BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Evercore set a $136.00 price objective on BNY in a research report on Friday, April 17th. Royal Bank Of Canada lifted their target price on BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Finally, Truist Financial upped their target price on BNY from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, BNY presently has an average rating of “Moderate Buy” and an average price target of $137.35.

BNY Trading Down 0.4%

BNY stock opened at $133.81 on Friday. BNY has a 12 month low of $81.12 and a 12 month 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 stock has a market cap of $92.09 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.98 and a beta of 1.08. The company’s fifty day simple moving average is $122.91 and its 200-day simple moving average is $117.72.

BNY (NYSE:BK) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) 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 analyst estimates of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.BNY’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. As a group, sell-side analysts forecast that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend 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 (DPR) is 26.27%.

Insider Transactions at BNY

In other news, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock valued at $6,568,423 in the last quarter. Corporate insiders own 0.17% 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.