Choreo LLC Has $4.90 Million Holdings in BNY $BK

Choreo LLC cut its stake in shares of BNY (NYSE:BK) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,922 shares of the bank’s stock after selling 5,044 shares during the period. Choreo LLC’s holdings in BNY were worth $4,899,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BK. Ameriprise Financial Inc. grew its stake in BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in BNY by 639.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after acquiring an additional 6,119,749 shares during the period. First Trust Advisors LP grew its stake in BNY by 1.5% in the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock valued at $488,564,000 after acquiring an additional 66,010 shares during the period. AQR Capital Management LLC grew its stake in BNY by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after acquiring an additional 906,218 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in BNY by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,483,240 shares of the bank’s stock valued at $288,279,000 after acquiring an additional 317,188 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BK shares. New Street Research set a $143.00 target price on BNY in a research note 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 note on Wednesday, January 7th. Truist Financial boosted their target price on BNY from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Citigroup started coverage on BNY in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, Royal Bank Of Canada boosted their target price on BNY from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.50.

BNY Stock Performance

Shares of BNY stock opened at $127.59 on Monday. The firm has a market cap of $87.81 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The stock’s 50-day moving average is $119.21 and its 200-day moving average is $115.16. BNY has a one year low of $72.50 and a one year high of $128.76. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.11. The company had revenue of $5.18 billion for 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. Equities analysts predict that BNY will post 6.96 earnings per share for the current fiscal year.

BNY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, January 23rd. BNY’s dividend payout ratio is presently 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.