State of Alaska Department of Revenue Sells 6,330 Shares of BNY $BK

State of Alaska Department of Revenue decreased its holdings in BNY (NYSE:BK) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,389 shares of the bank’s stock after selling 6,330 shares during the quarter. State of Alaska Department of Revenue’s holdings in BNY were worth $8,055,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its position in BNY by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 valued at $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. First Trust Advisors LP lifted its position in BNY by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock valued at $488,564,000 after acquiring an additional 66,010 shares in the last quarter. AQR Capital Management LLC lifted its position in BNY by 29.1% in the 3rd quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after acquiring an additional 906,218 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in BNY by 14.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,483,240 shares of the bank’s stock valued at $288,279,000 after acquiring an additional 317,188 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

BNY Price Performance

BNY stock opened at $128.98 on Tuesday. BNY has a 52 week low of $73.55 and a 52 week high of $129.22. The company’s 50 day moving average price is $119.36 and its two-hundred day moving average price is $115.30. 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 stock has a market cap of $88.77 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.02 and a beta of 1.06.

BNY (NYSE:BK) last posted its earnings results on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, topping 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 firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the firm earned $1.72 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that BNY will post 6.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial raised their price target on shares of BNY from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. New Street Research set a $143.00 target price on shares of BNY in a research report on Wednesday, January 14th. Citigroup initiated coverage on shares of BNY in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods lifted their target price on shares of BNY from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of BNY from $128.50 to $130.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. One investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.