Gamco Investors INC. ET AL Sells 91,162 Shares of BNY $BK

Gamco Investors INC. ET AL reduced its holdings in BNY (NYSE:BK) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,214,848 shares of the bank’s stock after selling 91,162 shares during the quarter. BNY comprises about 1.4% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 7th biggest position. Gamco Investors INC. ET AL’s holdings in BNY were worth $141,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BNY in the fourth quarter valued at about $27,000. Marquette Asset Management LLC grew its position in BNY by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in BNY during the third quarter worth about $33,000. Westside Investment Management Inc. grew its position in BNY by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after buying an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in BNY during the fourth quarter worth about $46,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BK shares. Keefe, Bruyette & Woods lifted their target price on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Truist Financial lifted their target price on BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Evercore set a $136.00 target price on BNY in a research report on Friday, April 17th. Weiss Ratings raised BNY from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. lifted their target price on BNY from $130.50 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.08.

BNY Stock Down 0.1%

Shares of BK opened at $134.89 on Monday. The stock has a market cap of $92.84 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 0.99 and a beta of 1.08. 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 has a 12 month low of $87.41 and a 12 month high of $139.15. The company has a 50-day moving average price of $125.55 and a two-hundred day moving average price of $119.43.

BNY (NYSE:BK) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. Equities analysts predict that BNY will post 8.78 EPS for the current fiscal year.

BNY Dividend Announcement

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

Insider Buying and Selling at BNY

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were 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 owned 15,206 shares in the company, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,091 shares of company stock worth $6,568,423 in the last three months. 0.17% of the stock is currently owned by company insiders.

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.