Aberdeen Group plc Decreases Stock Position in BNY $BK

Aberdeen Group plc cut its stake in BNY (NYSE:BK) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 618,256 shares of the bank’s stock after selling 27,935 shares during the quarter. Aberdeen Group plc owned about 0.09% of BNY worth $71,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marquette Asset Management LLC raised its position in BNY by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares during the period. Formidable Asset Management LLC raised its holdings in shares of BNY by 198.3% in the fourth quarter. Formidable Asset Management LLC now owns 8,770 shares of the bank’s stock worth $956,000 after buying an additional 5,830 shares during the period. Dorato Capital Management bought a new stake in shares of BNY during the 4th quarter worth approximately $243,000. Earned Wealth Advisors LLC lifted its stake in shares of BNY by 8.4% during the 4th quarter. Earned Wealth Advisors LLC now owns 2,754 shares of the bank’s stock worth $320,000 after acquiring an additional 214 shares during the last quarter. Finally, HF Advisory Group LLC boosted its holdings in BNY by 309.3% during the 4th quarter. HF Advisory Group LLC now owns 38,919 shares of the bank’s stock valued at $4,518,000 after acquiring an additional 29,411 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

BNY Trading Up 0.1%

NYSE:BK opened at $122.21 on Friday. The firm has a 50-day simple moving average of $118.53 and a 200-day simple moving average of $114.42. BNY has a one year low of $70.46 and a one year high of $128.76. The firm has a market cap of $84.11 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71.

BNY (NYSE:BK) last released its quarterly earnings data 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. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.11 billion. BNY had a net margin of 13.62% and a return on equity of 14.37%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. Equities analysts anticipate that BNY will post 6.96 EPS for the current fiscal year.

BNY Dividend Announcement

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

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. Citigroup initiated coverage on BNY in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. TD Cowen boosted their target price on shares of BNY from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada upped their price target on shares of BNY from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Morgan Stanley reduced 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 note on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.67.

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.