Jeff Auxier Comments on Bank of New York

Guru stock highlight

Author's Avatar
Aug 03, 2017

Bank of New York (BK, Financial) recently added an exceptional CEO in Charles Scharf who helped lead Visa in technology and international expansion. The company is benefitting from the relaxation in capital requirements and higher short-term interest rates. They are returning $4 billion to shareholders while raising the dividend 26% to $0.24.

From Jeff Auxier (Trades, Portfolio)'s second-quarter 2017 shareholder letter.