Premier Path Wealth Partners LLC Increases Stock Position in BNY $BK

Premier Path Wealth Partners LLC raised its position in shares of BNY (NYSE:BK) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,037 shares of the bank’s stock after buying an additional 4,039 shares during the period. Premier Path Wealth Partners LLC’s holdings in BNY were worth $3,255,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in BNY during the 4th quarter valued at $27,000. Marquette Asset Management LLC boosted its position in BNY by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after buying an additional 166 shares during the period. Valley Wealth Managers Inc. purchased a new stake in BNY during the 3rd quarter valued at $33,000. Caldwell Trust Co purchased a new stake in BNY during the 2nd quarter valued at $36,000. Finally, Westside Investment Management Inc. boosted its position in BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings raised shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. Morgan Stanley dropped their price target on shares of BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Wells Fargo & Company increased their price target on shares of BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Truist Financial increased 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. Finally, Citigroup started coverage on shares of BNY in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, BNY has an average rating of “Moderate Buy” and a consensus target price of $132.50.

BNY Trading Down 0.8%

Shares of NYSE BK opened at $127.59 on Friday. BNY has a 1 year low of $72.50 and a 1 year high of $128.76. The stock has a market cap of $87.81 billion, a P/E 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. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

BNY (NYSE:BK) last issued its quarterly 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 analysts’ expectations of $5.11 billion. During the same period last year, the company posted $1.72 EPS. BNY’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that BNY will post 6.96 EPS for the current fiscal year.

BNY Announces Dividend

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

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.