BNY $BK Position Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in BNY (NYSE:BK) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 512,111 shares of the bank’s stock after selling 21,619 shares during the quarter. Pictet Asset Management Holding SA’s holdings in BNY were worth $59,467,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of BNY during the fourth quarter valued at $27,000. Marquette Asset Management LLC lifted its holdings in BNY by 174.7% in the fourth 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 period. Valley Wealth Managers Inc. bought a new position in BNY in the 3rd quarter valued at about $33,000. Westside Investment Management Inc. increased its stake in BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after buying an additional 127 shares during the period. Finally, Dunhill Financial LLC increased its stake in BNY by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the sale, the executive vice president directly owned 62,613 shares in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock worth $6,568,423 over the last three months. 0.17% of the stock is owned by insiders.

BNY Trading Down 0.6%

Shares of NYSE BK opened at $133.63 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. BNY has a 12 month low of $77.77 and a 12 month high of $139.15. The company has a market cap of $91.97 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 0.98 and a beta of 1.06. The business has a fifty day simple moving average of $122.33 and a 200-day simple moving average of $117.42.

BNY (NYSE:BK) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The firm 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%.BNY’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Sell-side analysts predict that BNY will post 8.76 EPS for the current year.

BNY Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BK. Barclays upped their price target on shares of BNY from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Weiss Ratings raised BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. Morgan Stanley upped their target price on BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. Royal Bank Of Canada increased their price target on BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Finally, Evercore set a $136.00 price objective on BNY in a research note on Friday, April 17th. One 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. According to MarketBeat.com, BNY has a consensus rating of “Moderate Buy” and a consensus price target of $137.35.

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.