24,200 Shares in BNY $BK Purchased by North Dakota State Investment Board

North Dakota State Investment Board purchased a new stake in BNY (NYSE:BK) during the 4th quarter, Holdings Channel reports. The fund purchased 24,200 shares of the bank’s stock, valued at approximately $2,809,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ransom Advisory Ltd lifted its holdings in shares of BNY by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after purchasing an additional 85 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of BNY by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 86 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of BNY by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after purchasing an additional 94 shares in the last quarter. Vectors Research Management LLC lifted its holdings in shares of BNY by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after purchasing an additional 94 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in shares of BNY by 2.6% in the third quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, 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 transaction, the insider owned 17,259 shares of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company’s stock.

BNY Stock Performance

NYSE:BK opened at $136.60 on Tuesday. The firm has a 50 day simple moving average of $125.94 and a 200-day simple moving average of $119.63. 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 firm has a market cap of $94.01 billion, a PE ratio of 16.93, a P/E/G ratio of 0.99 and a beta of 1.08. BNY has a 1-year low of $87.41 and a 1-year high of $139.15.

BNY (NYSE:BK) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 14.60% and a return on equity of 15.29%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 earnings per share. On average, equities analysts expect that BNY will post 8.78 EPS for the current year.

BNY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were 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 of this dividend was Monday, April 27th. BNY’s payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent research reports. Royal Bank Of Canada upped their price target on shares of BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a report on Friday, April 17th. Evercore set a $136.00 price target on shares of BNY in a report on Friday, April 17th. Keefe, Bruyette & Woods upped their price target on shares of BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Citigroup initiated coverage on shares of BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, Truist Financial upped their price target on shares of 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 issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, BNY has a consensus rating of “Moderate Buy” and an average price target of $138.08.

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.