Calamos Advisors LLC Reduces Stake in BNY $BK

Calamos Advisors LLC lowered its position in BNY (NYSE:BK) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,228 shares of the bank’s stock after selling 7,220 shares during the period. Calamos Advisors LLC’s holdings in BNY were worth $20,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new position in BNY in the fourth quarter valued at approximately $220,000. Sivia Capital Partners LLC lifted its holdings 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 acquiring an additional 909 shares during the period. Jump Financial LLC acquired a new position in BNY in the second quarter valued at approximately $2,482,000. Treasurer of the State of North Carolina lifted its holdings 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 acquiring an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. lifted its holdings 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 acquiring an additional 1,189 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was 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 directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president directly owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company’s stock.

BNY Trading Down 1.0%

Shares of BK stock opened at $134.10 on Friday. 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 company has a market cap of $92.29 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.99 and a beta of 1.06. The stock has a 50 day simple moving average of $121.70 and a 200-day simple moving average of $116.94. BNY has a 1-year low of $77.77 and a 1-year high of $139.15.

BNY (NYSE:BK) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 EPS. On average, equities research analysts expect that BNY will post 8.76 EPS for the current fiscal year.

BNY Dividend Announcement

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 paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, April 27th. BNY’s dividend payout ratio is presently 26.27%.

Analyst Ratings Changes

A number of brokerages have issued reports on BK. TD Cowen boosted their price target on BNY from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. New Street Research set a $143.00 price target on BNY in a report on Wednesday, January 14th. Truist Financial boosted their price target on BNY from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, April 17th. Evercore set a $136.00 price target on BNY in a report on Friday, April 17th. Finally, Wells Fargo & Company boosted their price target on BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.35.

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.