Newbridge Financial Services Group Inc. Trims Position in BNY $BK

Newbridge Financial Services Group Inc. lowered its stake in shares of BNY (NYSE:BK) by 99.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 285 shares of the bank’s stock after selling 28,399 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in BNY were worth $33,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sound Income Strategies LLC increased its position in shares of BNY by 6.5% during the fourth quarter. Sound Income Strategies LLC now owns 82,620 shares of the bank’s stock valued at $10,024,000 after buying an additional 5,058 shares during the period. Rathbones Group PLC grew its stake in BNY by 5.0% in the fourth quarter. Rathbones Group PLC now owns 63,019 shares of the bank’s stock worth $7,316,000 after purchasing an additional 3,019 shares during the period. Allen Mooney & Barnes Investment Advisors LLC grew its stake in BNY by 24.5% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 2,837 shares of the bank’s stock worth $329,000 after purchasing an additional 559 shares during the period. TOWER TRUST & INVESTMENT Co grew its stake in BNY by 28.1% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 2,739 shares of the bank’s stock worth $318,000 after purchasing an additional 600 shares during the period. Finally, Realta Investment Advisors grew its stake in BNY by 12.9% in the fourth quarter. Realta Investment Advisors now owns 8,969 shares of the bank’s stock worth $1,041,000 after purchasing an additional 1,022 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

BNY Price Performance

Shares of BK opened at $128.48 on Friday. The company has a market capitalization of $88.42 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.03 and a beta of 1.06. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $119.06 and a 200 day moving average of $114.95. BNY has a twelve month low of $72.50 and a twelve month high of $128.76.

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

BNY Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. BNY’s dividend payout ratio (DPR) is 28.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings raised BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. TD Cowen upped their price target on BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Truist Financial upped their price target on BNY from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Morgan Stanley cut their price objective on shares of BNY from $147.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Finally, Wells Fargo & Company upped their price objective on shares of BNY from $119.00 to $122.00 and gave the stock 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 issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.50.

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.