Sun Financial Inc Makes New Investment in BNY $BK

Sun Financial Inc acquired a new position in shares of BNY (NYSE:BK) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,582 shares of the bank’s stock, valued at approximately $1,345,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC raised its holdings in BNY by 7.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,875 shares of the bank’s stock worth $334,000 after buying an additional 201 shares during the period. Montag A & Associates Inc. raised its holdings in BNY by 20,400.0% during the 4th quarter. Montag A & Associates Inc. now owns 3,485 shares of the bank’s stock worth $405,000 after buying an additional 3,468 shares during the period. CENTRAL TRUST Co raised its holdings in BNY by 17.8% during the 4th quarter. CENTRAL TRUST Co now owns 6,233 shares of the bank’s stock worth $724,000 after buying an additional 941 shares during the period. Benjamin Edwards Inc. raised its holdings in BNY by 6.9% during the 4th quarter. Benjamin Edwards Inc. now owns 19,327 shares of the bank’s stock worth $2,244,000 after buying an additional 1,254 shares during the period. Finally, Artemis Investment Management LLP raised its holdings in BNY by 17.4% during the 4th quarter. Artemis Investment Management LLP now owns 777,519 shares of the bank’s stock worth $90,262,000 after buying an additional 115,250 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity at BNY

In related 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 value 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. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the sale, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 48,091 shares of company stock worth $6,568,423. Company insiders own 0.17% of the company’s stock.

BNY Stock Performance

Shares of NYSE BK opened at $133.81 on Monday. The business has a fifty day simple moving average of $122.91 and a 200 day simple moving average of $117.79. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $92.09 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.98 and a beta of 1.08. BNY has a one year low of $81.12 and a one year high of $139.15.

BNY (NYSE:BK) last released 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. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company posted $1.58 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts expect that BNY will post 8.76 EPS for the current year.

BNY Dividend Announcement

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 yield of 1.6%. The ex-dividend date is Monday, April 27th. BNY’s payout ratio is 26.27%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BK. 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. Citigroup started coverage on BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Barclays increased their price objective on BNY from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Royal Bank Of Canada increased their price objective on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Finally, Morgan Stanley increased their price objective on BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.35.

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.