Kurtis Kurimsky Sells 5,290 Shares of BNY (NYSE:BK) Stock

BNY (NYSE:BK) insider Kurtis Kurimsky sold 5,290 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

BNY Trading Up 1.9%

Shares of BK stock traded up $2.60 on Tuesday, hitting $137.97. 4,522,694 shares of the stock traded hands, compared to its average volume of 3,862,232. The firm’s 50-day moving average price is $120.45 and its two-hundred day moving average price is $116.19. 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 stock has a market capitalization of $94.96 billion, a PE ratio of 17.10, a PEG ratio of 1.07 and a beta of 1.06. BNY has a twelve month low of $75.35 and a twelve month high of $139.15.

BNY (NYSE:BK) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. BNY’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts anticipate that BNY will post 8.52 EPS for the current year.

BNY Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, April 27th. BNY’s dividend payout ratio is presently 26.27%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods upped their target price on shares of BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday. Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Evercore set a $136.00 target price on shares of BNY in a research note on Friday. 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 investment 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 company. According to data from MarketBeat.com, BNY currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.35.

Hedge Funds Weigh In On BNY

Several hedge funds have recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC purchased a new position in BNY in the fourth quarter valued at approximately $220,000. Sivia Capital Partners LLC increased its stake in BNY by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares during the last quarter. Jump Financial LLC purchased a new position in BNY in the second quarter valued at approximately $2,482,000. Treasurer of the State of North Carolina increased its stake 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 valued at $30,466,000 after purchasing an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. increased 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. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

BNY Company 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.