SVB Wealth LLC Reduces Stock Holdings in BNY $BK

SVB Wealth LLC trimmed its holdings in shares of BNY (NYSE:BK) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,134 shares of the bank’s stock after selling 5,059 shares during the quarter. SVB Wealth LLC’s holdings in BNY were worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swiss Life Asset Management Ltd grew its stake in BNY by 20.0% during the 4th quarter. Swiss Life Asset Management Ltd now owns 236,020 shares of the bank’s stock worth $27,400,000 after buying an additional 39,355 shares during the last quarter. Kepler Cheuvreux Suisse SA purchased a new position in BNY during the 4th quarter worth $15,633,000. Drive Wealth Management LLC grew its stake in BNY by 26.3% during the 4th quarter. Drive Wealth Management LLC now owns 4,522 shares of the bank’s stock worth $525,000 after buying an additional 942 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in BNY during the 4th quarter worth $876,000. Finally, Income Insurance Ltd purchased a new stake in BNY during the 4th quarter valued at about $246,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BK shares. Keefe, Bruyette & Woods boosted their price target on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Truist Financial boosted their price target on BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Barclays boosted their price target on BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Citigroup started coverage on BNY in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on BNY from $130.50 to $140.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BNY currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.08.

BNY Stock Up 1.5%

BK stock opened at $132.44 on Tuesday. BNY has a one year low of $86.52 and a one year high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s fifty day moving average is $124.26 and its 200 day moving average is $118.66. The firm has a market cap of $91.15 billion, a PE ratio of 16.41, a P/E/G ratio of 0.96 and a beta of 1.08.

BNY (NYSE:BK) last issued its quarterly earnings data 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. 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 the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts forecast that BNY will post 8.76 EPS for the current year.

BNY Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. The ex-dividend date of this dividend 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 is presently 26.27%.

Insiders Place Their Bets

In related news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. The trade was a 37.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by company insiders.

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.