Hikari Power Ltd Sells 11,680 Shares of BNY $BK

Hikari Power Ltd decreased its stake in shares of BNY (NYSE:BK) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,130 shares of the bank’s stock after selling 11,680 shares during the period. BNY comprises 1.8% of Hikari Power Ltd’s portfolio, making the stock its 13th largest holding. Hikari Power Ltd’s holdings in BNY were worth $22,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BK. Revolve Wealth Partners LLC bought a new position in BNY in the fourth quarter worth approximately $220,000. Sivia Capital Partners LLC raised its position in BNY by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after acquiring an additional 909 shares during the period. Jump Financial LLC bought a new position in BNY in the second quarter worth approximately $2,482,000. Treasurer of the State of North Carolina raised its position in BNY by 1.7% in the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock worth $30,466,000 after acquiring an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. raised its position in BNY by 11,890.0% in the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock worth $109,000 after acquiring an additional 1,189 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Insider Activity at BNY

In other BNY news, insider Kurtis R. Kurimsky sold 5,290 shares of BNY stock in a transaction 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 directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction 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 completion of the transaction, the vice president directly owned 15,206 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BK shares. Citigroup started coverage on shares of BNY in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. New Street Research set a $143.00 price objective on BNY in a research note on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their price objective on BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Barclays boosted their price objective on BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.35.

BNY Stock Performance

Shares of NYSE BK opened at $130.48 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. The company has a market cap of $89.80 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.96 and a beta of 1.08. The firm’s fifty day moving average is $123.84 and its two-hundred day moving average is $118.32. BNY has a 52-week low of $85.69 and a 52-week high of $139.15.

BNY (NYSE:BK) last announced its quarterly earnings results 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. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. BNY’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 firm posted $1.58 EPS. As a group, analysts anticipate that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

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

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.