GRIMES & Co WEALTH MANAGEMENT LLC Buys 9,123 Shares of BNY $BK

GRIMES & Co WEALTH MANAGEMENT LLC increased its position in BNY (NYSE:BK) by 25.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,301 shares of the bank’s stock after purchasing an additional 9,123 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in BNY were worth $5,143,000 as of its most recent SEC filing.

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

Insider Transactions at BNY

In other BNY news, 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 transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last ninety days. Company insiders own 0.17% of the company’s stock.

BNY Stock Down 2.3%

Shares of NYSE:BK opened at $130.61 on Friday. BNY has a 1 year low of $84.54 and a 1 year high of $139.15. The company has a market capitalization of $89.89 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The business has a fifty day moving average price of $123.84 and a two-hundred day moving average price of $118.32. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71.

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

BNY Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.6%. BNY’s dividend payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BK. Citigroup initiated coverage on BNY in a report on Monday, February 23rd. They set a “neutral” rating for the company. Royal Bank Of Canada lifted their target price on BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods upped their price target on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Weiss Ratings raised BNY from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of BNY from $128.50 to $130.50 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. One equities 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.35.

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.