Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 7,452 Shares of BNY $BK

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of BNY (NYSE:BK) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,971 shares of the bank’s stock after purchasing an additional 7,452 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in BNY were worth $18,919,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Valley Wealth Managers Inc. bought a new stake in shares of BNY in the 3rd quarter worth about $33,000. Caldwell Trust Co bought a new position in shares of BNY in the 2nd quarter valued at about $36,000. Westside Investment Management Inc. lifted its holdings in shares of BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC grew its position in BNY by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares in the last quarter. Finally, Community Bank N.A. grew its position in BNY by 250.4% in the third quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after acquiring an additional 313 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on BNY from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley dropped their target price on BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday. Barclays boosted their target price on BNY from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods increased their price target on BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company raised their price target on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, BNY currently has an average rating of “Moderate Buy” and a consensus target price of $132.67.

BNY Stock Performance

BNY stock opened at $121.15 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $83.38 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.10. BNY has a 1-year low of $70.46 and a 1-year high of $128.76. The company’s 50-day moving average is $118.40 and its 200 day moving average is $114.26.

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

BNY Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio is 28.61%.

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.