J Kevin Mccarthy Sells 30,000 Shares of BNY (NYSE:BK) Stock

BNY (NYSE:BK) EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BNY Trading Down 1.5%

Shares of NYSE:BK opened at $135.86 on Thursday. BNY has a 1 year low of $77.48 and a 1 year high of $139.15. The firm has a market capitalization of $93.50 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. The business’s 50 day moving average price is $120.96 and its 200-day moving average price is $116.55.

BNY (NYSE:BK) last announced its 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. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $1.58 EPS. The business’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts forecast that BNY will post 8.67 earnings per share for the current fiscal year.

BNY Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Linscomb Wealth Inc. increased its stake in shares of BNY by 2.5% in the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after acquiring an additional 80 shares during the last quarter. Ransom Advisory Ltd increased its stake in shares of BNY by 1.3% in the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after acquiring an additional 85 shares during the last quarter. Mather Group LLC. increased its stake in shares of BNY by 0.9% in the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after acquiring an additional 86 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of BNY by 3.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after acquiring an additional 88 shares during the last quarter. Finally, Essex Financial Services Inc. increased its stake in shares of BNY by 0.5% in the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price objective on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Weiss Ratings upgraded BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. Citigroup initiated coverage on BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Wells Fargo & Company raised their price objective on BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Finally, Morgan Stanley raised their price objective on BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, BNY currently has a consensus rating of “Moderate Buy” and an average target price of $137.35.

BNY News Roundup

Here are the key news stories impacting BNY this week:

• Positive Sentiment: Analysts have an overall “Moderate Buy” consensus and several recent price-target raises, which supports upside expectations for BK. Analyst Consensus: Moderate Buy
• Positive Sentiment: BNY reported a solid Q1 beat (EPS and revenue ahead of estimates), is paying a quarterly dividend, and management has signaled capital returns (including a large buyback), all of which underpin longer-term investor optimism. Q1 Beat, Dividend and Buyback
• Neutral Sentiment: Institutional ownership remains very high (~85%), and several hedge funds adjusted small positions in the most recent quarter — this suggests moves may be driven more by major holders and corporate-newsflow than retail trading.
• Negative Sentiment: A cluster of insider sales on April 17 (including EVP Alejandro Perez, EVP J. Kevin McCarthy, Kurtis Kurimsky and VP Shannon Hobbs) was disclosed this week; the size and concentration of those disposals can be interpreted negatively by the market. SEC filings: Perez, McCarthy, Kurimsky, Hobbs. Wave of Insider Sales Perez filing McCarthy filing Kurimsky filing Hobbs filing
• Negative Sentiment: Unusual options activity: traders bought ~15,757 put contracts (a ~663% jump over typical daily put volume), signaling elevated hedging or bearish bets that can amplify near-term downside pressure.

About BNY

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.