State of Alaska Department of Revenue reduced its holdings in shares of BNY (NYSE:BK – Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,389 shares of the bank’s stock after selling 6,330 shares during the period. State of Alaska Department of Revenue’s holdings in BNY were worth $8,055,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY during the 4th quarter worth about $27,000. Marquette Asset Management LLC grew its holdings in BNY by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after acquiring an additional 166 shares during the period. Valley Wealth Managers Inc. acquired a new stake in BNY during the 3rd quarter worth about $33,000. Caldwell Trust Co acquired a new stake in BNY during the 2nd quarter worth about $36,000. Finally, Westside Investment Management Inc. grew its holdings in BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after acquiring an additional 127 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods boosted their target price on BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 target price on BNY in a research report on Wednesday, January 14th. TD Cowen boosted their target price on BNY from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Morgan Stanley decreased their target price on BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, BNY currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.
BNY Stock Performance
Shares of BNY stock opened at $128.98 on Tuesday. BNY has a one year low of $73.55 and a one year high of $129.22. The firm has a market capitalization of $88.77 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.02 and a beta of 1.06. The business has a 50-day simple moving average of $119.36 and a 200 day simple moving average of $115.30. 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 – Get Free Report) last issued its earnings results on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the previous year, the company posted $1.72 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that BNY will post 6.96 earnings per share for the current fiscal year.
BNY Company 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.
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