Sumitomo Mitsui DS Asset Management Company Ltd Purchases 103,514 Shares of BNY $BK

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of BNY (NYSE:BK) by 43.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 339,868 shares of the bank’s stock after buying an additional 103,514 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in BNY were worth $39,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BK. Thurston Springer Miller Herd & Titak Inc. bought a new stake in BNY in the 4th quarter valued at about $27,000. 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 during the period. Valley Wealth Managers Inc. bought a new position in BNY during the third quarter worth about $33,000. Westside Investment Management Inc. increased its stake in shares of BNY by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of BNY in the fourth quarter worth about $46,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BK. Morgan Stanley upped their price target on shares of BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. Truist Financial lifted their price objective on shares of BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Barclays boosted their target price on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. JPMorgan Chase & Co. raised their price target on BNY from $128.50 to $130.50 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Finally, Evercore set a $136.00 price target on BNY in a research report on Friday, April 17th. One equities 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.35.

BNY Price Performance

BK stock opened at $132.33 on Wednesday. The firm has a 50 day moving average of $123.19 and a 200-day moving average of $117.96. The firm has a market capitalization of $91.07 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. BNY has a 12 month low of $81.12 and a 12 month high of $139.15. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

BNY (NYSE:BK) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm posted $1.58 EPS. BNY’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts predict that BNY will post 8.76 earnings per share for the current fiscal year.

BNY Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, April 27th. BNY’s dividend payout ratio (DPR) is 26.27%.

Insiders Place Their Bets

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the company’s 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 transaction, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by corporate insiders.

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.