BNY $BK Shares Bought by HF Advisory Group LLC

HF Advisory Group LLC grew its stake in shares of BNY (NYSE:BK) by 309.3% in the 4th quarter, Holdings Channel reports. The firm owned 38,919 shares of the bank’s stock after acquiring an additional 29,411 shares during the quarter. HF Advisory Group LLC’s holdings in BNY were worth $4,518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of BNY by 639.5% in the 3rd 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 purchasing an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. grew its stake in BNY by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after buying an additional 2,034,781 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in BNY in the second quarter worth $135,728,000. AQR Capital Management LLC increased its position in BNY by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock worth $438,418,000 after buying an additional 906,218 shares during the period. Finally, Danske Bank A S bought a new stake in BNY in the third quarter valued at $65,973,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

BNY Price Performance

Shares of BK opened at $121.15 on Thursday. The firm has a market capitalization of $83.38 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. BNY has a one year low of $70.46 and a one year high of $128.76. The stock’s fifty day moving average is $118.40 and its 200-day moving average is $114.26.

BNY (NYSE:BK) last posted its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.11. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.11 billion. BNY had a net margin of 13.62% and a return on equity of 14.37%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.72 earnings per share. Equities analysts anticipate that BNY will post 6.96 EPS for the current year.

BNY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio is currently 28.61%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of BNY from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Royal Bank Of Canada lifted their price objective on shares of BNY from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 target price on shares of BNY in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.67.

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.