Handelsbanken Fonder AB Has $38.22 Million Position in BNY $BK

Handelsbanken Fonder AB boosted its stake in shares of BNY (NYSE:BK) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,257 shares of the bank’s stock after acquiring an additional 30,229 shares during the quarter. Handelsbanken Fonder AB’s holdings in BNY were worth $38,223,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in BNY by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after acquiring an additional 647,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in BNY by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares in the last quarter. Ameriprise Financial Inc. raised its stake in BNY by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in BNY by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in BNY by 1.5% during the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock worth $488,564,000 after acquiring an additional 66,010 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

BNY Price Performance

Shares of BK stock opened at $136.15 on Wednesday. The stock’s fifty day moving average is $126.36 and its 200-day moving average is $119.84. 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 stock has a market capitalization of $93.70 billion, a PE ratio of 16.87, a PEG ratio of 1.00 and a beta of 1.08. BNY has a 52 week low of $87.41 and a 52 week high of $139.15.

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

BNY Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given 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 dividend payout ratio (DPR) is presently 26.27%.

Analyst Ratings Changes

Several analysts have recently commented on BK shares. Evercore set a $136.00 target price on BNY in a report on Friday, April 17th. Keefe, Bruyette & Woods increased their target price on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. JPMorgan Chase & Co. increased their target price on BNY from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings upgraded BNY from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada increased their target price on 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Transactions at BNY

In related news, EVP J Kevin Mccarthy sold 30,000 shares of BNY 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 sale, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of BNY 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 sale, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,091 shares of company stock valued at $6,568,423 in the last three months. Company insiders own 0.17% of the company’s stock.

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.