Tweedy Browne Co LLC Sells 11,648 Shares of BNY $BK

Tweedy Browne Co LLC lowered its stake in shares of BNY (NYSE:BK) by 8.4% during the fourth quarter, Holdings Channel reports. The fund owned 127,393 shares of the bank’s stock after selling 11,648 shares during the period. BNY makes up approximately 1.2% of Tweedy Browne Co LLC’s holdings, making the stock its 19th biggest holding. Tweedy Browne Co LLC’s holdings in BNY were worth $14,789,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC raised its stake in shares of BNY by 133.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after acquiring an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of BNY by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after acquiring an additional 8,277 shares during the last quarter. First National Advisers LLC bought a new position in shares of BNY in the third quarter valued at approximately $3,304,000. First Horizon Corp bought a new position in shares of BNY in the third quarter valued at approximately $22,072,000. Finally, National Pension Service raised its stake in shares of BNY by 3.1% in the third quarter. National Pension Service now owns 2,053,278 shares of the bank’s stock valued at $223,725,000 after acquiring an additional 61,718 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BK. Citigroup began coverage on shares of BNY in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Royal Bank Of Canada lifted their target price on shares of BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Morgan Stanley lifted their target price 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. TD Cowen lifted their target price 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. Finally, Barclays lifted their target price 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 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $137.35.

Insider Activity at BNY

In related news, 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 value of $1,713,173.04. Following the completion of the transaction, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This trade represents a 1.92% 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. Company insiders own 0.17% of the company’s stock.

BNY Stock Performance

BK stock opened at $131.67 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. The company has a 50 day moving average price of $122.91 and a 200 day moving average price of $117.79. BNY has a fifty-two week low of $81.12 and a fifty-two week high of $139.15. The stock has a market capitalization of $90.62 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08.

BNY (NYSE:BK) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share 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 firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company posted $1.58 EPS. BNY’s revenue was up 12.9% on a year-over-year basis. Analysts forecast that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

The business 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 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, April 27th. BNY’s payout ratio is 26.27%.

About BNY

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.