19,513 Shares in BNY $BK Purchased by ABC Arbitrage SA

ABC Arbitrage SA acquired a new position in BNY (NYSE:BK) in the fourth quarter, Holdings Channel reports. The fund acquired 19,513 shares of the bank’s stock, valued at approximately $2,265,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new stake in shares of BNY during the 4th quarter worth $220,000. Sivia Capital Partners LLC increased its stake 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 worth $309,000 after purchasing an additional 909 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of BNY during the 2nd quarter worth approximately $2,482,000. Treasurer of the State of North Carolina raised its holdings in shares of BNY by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock worth $30,466,000 after purchasing an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. lifted its stake in BNY by 11,890.0% in the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,189 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

BNY Price Performance

BNY stock opened at $132.44 on Tuesday. The firm has a market capitalization of $91.15 billion, a P/E ratio of 16.41, a PEG ratio of 0.96 and a beta of 1.08. BNY has a one year low of $86.52 and a one year high of $139.15. 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 business has a fifty day moving average price of $124.26 and a 200-day moving average price of $118.66.

BNY (NYSE:BK) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

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

Insider Activity

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the company’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 transaction of $719,545.80. Following the sale, the insider owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the sale, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BK. Barclays increased their price objective on BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Morgan Stanley upped their price target on BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods increased their price target on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Evercore set a $136.00 price objective on BNY in a report on Friday, April 17th. Finally, Royal Bank Of Canada boosted their price objective on BNY from $130.00 to $142.00 and gave the company a “sector perform” 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.08.

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.