Thrivent Financial for Lutherans Raises Stock Holdings in BNY $BK

Thrivent Financial for Lutherans boosted its stake in BNY (NYSE:BK) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,134,068 shares of the bank’s stock after buying an additional 12,147 shares during the period. Thrivent Financial for Lutherans’ holdings in BNY were worth $131,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ransom Advisory Ltd raised its holdings in BNY by 1.3% in the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after buying an additional 85 shares during the period. Mather Group LLC. raised its holdings in BNY by 0.9% in the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after buying an additional 86 shares during the period. Valeo Financial Advisors LLC raised its holdings in BNY by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after buying an additional 94 shares during the period. Vectors Research Management LLC raised its holdings in BNY by 0.7% in the 4th quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after buying an additional 94 shares during the period. Finally, Angeles Wealth Management LLC raised its holdings in BNY by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after buying an additional 98 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the business’s 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 transaction, the executive vice president directly owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several research reports. 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. Keefe, Bruyette & Woods lifted their target price on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Evercore set a $136.00 target price on BNY in a research report on Friday, April 17th. Barclays lifted their target price on BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Finally, Weiss Ratings raised BNY from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.08.

BNY Stock Performance

NYSE BK opened at $135.82 on Friday. The company has a market cap of $93.48 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.99 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a 50-day moving average of $125.22 and a two-hundred day moving average of $119.24. BNY has a 1-year low of $87.41 and a 1-year high of $139.15.

BNY (NYSE:BK) last announced its quarterly earnings data 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 business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company posted $1.58 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts anticipate that BNY will post 8.78 EPS for the current year.

BNY Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.6%. BNY’s payout ratio is currently 26.27%.

BNY Company 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.