BNY $BK Shares Sold by Greystone Financial Group LLC

Greystone Financial Group LLC lessened its position in shares of BNY (NYSE:BK) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 136,651 shares of the bank’s stock after selling 3,856 shares during the quarter. BNY accounts for 2.5% of Greystone Financial Group LLC’s portfolio, making the stock its 11th largest position. Greystone Financial Group LLC’s holdings in BNY were worth $15,864,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BNY in the 4th quarter worth approximately $27,000. Marquette Asset Management LLC lifted its stake 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 acquiring an additional 166 shares during the period. Valley Wealth Managers Inc. purchased a new stake in shares of BNY in the 3rd quarter valued at $33,000. Westside Investment Management Inc. increased its stake in shares of BNY by 44.1% in the third 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. Finally, Dunhill Financial LLC raised its holdings in shares of BNY by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

BNY Stock Up 0.1%

BK stock opened at $135.26 on Tuesday. BNY has a one year low of $73.55 and a one year high of $137.54. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. The firm’s fifty day moving average is $120.45 and its 200 day moving average is $116.19. The firm has a market cap of $93.09 billion, a PE ratio of 16.76, a P/E/G ratio of 1.07 and a beta of 1.06.

BNY (NYSE:BK) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts forecast that BNY will post 8.52 EPS for the current year.

BNY Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY’s dividend payout ratio is presently 26.27%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BK. New Street Research set a $143.00 target price on shares of BNY in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price objective on BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Morgan Stanley boosted their price objective on BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday. Wells Fargo & Company upped their target price on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Finally, TD Cowen raised their target price on BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.35.

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.