Swedbank AB Boosts Stake in BNY $BK

Swedbank AB lifted its holdings in shares of BNY (NYSE:BK) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 886,883 shares of the bank’s stock after purchasing an additional 17,157 shares during the quarter. Swedbank AB’s holdings in BNY were worth $102,958,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BNY in the fourth quarter valued at about $27,000. Marquette Asset Management LLC increased its holdings in BNY by 174.7% during the 4th 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 last quarter. Valley Wealth Managers Inc. purchased a new stake in BNY during the 3rd quarter worth approximately $33,000. Westside Investment Management Inc. raised its position in shares of 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 purchasing an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of BNY in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a research 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. Barclays increased their price objective 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. Royal Bank Of Canada raised their price objective on shares of BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Finally, New Street Research set a $143.00 target price on shares of BNY in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.35.

Insider Buying and Selling at BNY

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, the executive vice president owned 50,238 shares of the company’s stock, valued at $6,857,487. This represents a 37.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company’s stock.

BNY Price Performance

Shares of BK opened at $133.80 on Thursday. BNY has a 52 week low of $82.91 and a 52 week 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. The firm has a market cap of $92.09 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.97 and a beta of 1.08. The stock has a 50 day moving average of $123.56 and a 200-day moving average of $118.15.

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

BNY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders 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 presently 26.27%.

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.