4,577 Shares in BNY $BK Acquired by Invariant Investment Management

Invariant Investment Management bought a new position in shares of BNY (NYSE:BK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,577 shares of the bank’s stock, valued at approximately $545,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Thurston Springer Miller Herd & Titak Inc. bought a new stake in BNY during the fourth quarter worth approximately $27,000. Marquette Asset Management LLC raised its holdings in BNY by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in BNY during the third quarter worth approximately $33,000. Caldwell Trust Co bought a new stake in BNY during the second quarter worth approximately $36,000. Finally, Westside Investment Management Inc. raised its holdings in BNY by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

BNY Trading Up 1.1%

Shares of NYSE:BK opened at $130.54 on Wednesday. The firm has a fifty day moving average of $119.58 and a two-hundred day moving average of $115.45. The firm has a market capitalization of $89.84 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. BNY has a 12-month low of $73.55 and a 12-month high of $130.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

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

Analyst Ratings Changes

BK has been the topic of several recent analyst reports. Barclays boosted their target price on BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley decreased their price target on shares of BNY from $147.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. 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 report on Wednesday, January 14th. Citigroup started coverage on shares of BNY in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, 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 report on Wednesday, January 14th. One equities 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.