Varma Mutual Pension Insurance Co Boosts Stock Holdings in BNY $BK

Varma Mutual Pension Insurance Co grew its position in shares of BNY (NYSE:BK) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,490 shares of the bank’s stock after purchasing an additional 8,900 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in BNY were worth $20,605,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY in the 4th quarter valued at $27,000. Marquette Asset Management LLC grew its stake in BNY by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Valley Wealth Managers Inc. acquired a new stake in BNY in the 3rd quarter valued at $33,000. Westside Investment Management Inc. grew its stake in BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in BNY in the 4th quarter valued at $46,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BNY

In other news, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction on 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 owned 62,613 shares in the company, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,091 shares of company stock worth $6,568,423. Company insiders own 0.17% of the company’s stock.

BNY Trading Up 0.0%

Shares of BK opened at $133.81 on Monday. BNY has a 52-week low of $81.12 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 firm’s fifty day moving average is $122.91 and its two-hundred day moving average is $117.79. The stock has a market cap of $92.09 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08.

BNY (NYSE:BK) last announced its earnings results 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 net margin of 14.60% and a return on equity of 15.29%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. Research analysts forecast that BNY will post 8.76 earnings per share for the current fiscal year.

BNY Announces Dividend

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

Analyst Ratings Changes

BK has been the topic of a number of research analyst reports. New Street Research set a $143.00 price target on shares of BNY in a research note on Wednesday, January 14th. TD Cowen lifted their price target on shares of BNY from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Citigroup initiated coverage on shares of BNY in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, Barclays lifted their price target on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research note 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’s stock. According to data from MarketBeat, BNY presently has an average rating of “Moderate Buy” and an average target price of $137.35.

BNY 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.