Frisch Financial Group Inc. Invests $747,000 in BNY $BK

Frisch Financial Group Inc. acquired a new position in shares of BNY (NYSE:BK) in the fourth quarter, Holdings Channel.com reports. The fund acquired 6,432 shares of the bank’s stock, valued at approximately $747,000.

Several other hedge funds have also added to or reduced their stakes in the business. Ransom Advisory Ltd lifted its stake in BNY by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after purchasing an additional 85 shares during the last quarter. Mather Group LLC. lifted its stake in BNY by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after purchasing an additional 86 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in BNY by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after purchasing an additional 94 shares during the last quarter. Vectors Research Management LLC lifted its stake in BNY by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock worth $1,507,000 after purchasing an additional 94 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in BNY by 2.6% in the third quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock worth $414,000 after purchasing an additional 98 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

BNY Stock Performance

NYSE:BK opened at $136.60 on Tuesday. The stock has a market cap of $94.01 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08. The firm’s fifty day simple moving average is $125.94 and its 200 day simple moving average is $119.63. BNY has a twelve month low of $87.41 and a twelve month high of $139.15. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

BNY (NYSE:BK) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS 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 business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the business earned $1.58 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts predict that BNY will post 8.78 EPS for the current year.

BNY Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on BK. Morgan Stanley boosted their price target on shares of BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Truist Financial boosted their price target on shares of BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods boosted their price target on shares of BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. boosted their price objective on shares of BNY from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada increased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, BNY presently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Insider Activity at BNY

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the company’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 transaction, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’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 value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by corporate insiders.

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.