Premier Path Wealth Partners LLC Purchases 4,039 Shares of BNY $BK

Premier Path Wealth Partners LLC raised its position in shares of BNY (NYSE:BK) by 16.8% in the fourth quarter, Holdings Channel reports. The firm owned 28,037 shares of the bank’s stock after acquiring an additional 4,039 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in BNY were worth $3,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in BNY by 639.5% during 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 valued at $771,080,000 after purchasing an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares during the period. AQR Capital Management LLC grew its stake in shares of 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 acquiring an additional 906,218 shares during the period. Danske Bank A S bought a new stake in shares of BNY in the third quarter worth approximately $65,973,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of BNY by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after acquiring an additional 577,621 shares during the period. 85.31% of the stock is currently owned by institutional investors.

BNY Stock Performance

Shares of NYSE BK opened at $127.59 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. BNY has a 12-month low of $72.50 and a 12-month high of $128.76. The firm has a market capitalization of $87.81 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.03 and a beta of 1.06. The firm has a 50 day moving average of $119.21 and a 200 day moving average of $115.07.

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

BNY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued 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 yield of 1.7%. BNY’s payout ratio is currently 28.61%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BK shares. TD Cowen lifted their price target on shares of BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of BNY from $132.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Barclays lifted their price target on shares of BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Citigroup started coverage on shares of BNY in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, Royal Bank Of Canada lifted their price target on shares of BNY from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note 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. According to MarketBeat, BNY currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

BNY Profile

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.