Poehling Capital Management INC. Sells 23,032 Shares of BNY $BK

Poehling Capital Management INC. trimmed its holdings in BNY (NYSE:BK) by 48.9% in the 4th quarter, HoldingsChannel reports. The firm owned 24,112 shares of the bank’s stock after selling 23,032 shares during the quarter. Poehling Capital Management INC.’s holdings in BNY were worth $2,799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC bought a new position in shares of BNY during the 4th quarter valued at approximately $220,000. Sivia Capital Partners LLC boosted its position in shares of BNY by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after acquiring an additional 909 shares during the last quarter. Jump Financial LLC bought a new position in shares of BNY during the 2nd quarter valued at approximately $2,482,000. Treasurer of the State of North Carolina boosted its position in shares of BNY by 1.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after acquiring an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its position in shares of BNY by 11,890.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after acquiring an additional 1,189 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

BNY Stock Performance

NYSE:BK opened at $136.15 on Wednesday. The stock’s fifty day moving average is $126.36 and its 200 day moving average is $119.84. BNY has a fifty-two week low of $87.41 and a fifty-two week high of $139.15. The firm has a market capitalization of $93.70 billion, a PE ratio of 16.87, a PEG ratio of 1.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75.

BNY (NYSE:BK) last released its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating 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 company 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 quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that BNY will post 8.78 earnings per share for the current year.

BNY Announces Dividend

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

Insider Buying and Selling

In other BNY news, EVP Alejandro Perez sold 12,504 shares of the 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 sale, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the sale, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. 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. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BK shares. Morgan Stanley increased 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. Barclays increased 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. Weiss Ratings upgraded BNY from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Evercore set a $136.00 target price on BNY in a research report on Friday, April 17th. Finally, Citigroup started coverage on BNY in a research report on Monday, February 23rd. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, BNY currently has an average 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.