BNY $BK Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its stake in shares of BNY (NYSE:BK) by 21.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,934 shares of the bank’s stock after purchasing an additional 9,287 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in BNY were worth $6,145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. Revolve Wealth Partners LLC acquired a new position in BNY in the 4th quarter valued at $220,000. Sivia Capital Partners LLC increased its stake in shares of BNY by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after acquiring an additional 909 shares during the period. Global Retirement Partners LLC purchased a new position in BNY during the second quarter worth about $485,000. Elevation Point Wealth Partners LLC purchased a new position in BNY during the second quarter worth about $165,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in BNY by 0.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 104,969 shares of the bank’s stock valued at $9,564,000 after purchasing an additional 932 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BK. TD Cowen lifted their price target on BNY from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Citigroup started coverage on shares of BNY in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Barclays boosted their price objective on shares of BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley upped their target price on shares of BNY from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.92.

BNY Stock Performance

Shares of BK opened at $114.77 on Monday. BNY has a 12-month low of $70.46 and a 12-month high of $128.76. The stock has a market cap of $78.99 billion, a P/E ratio of 15.49, a PEG ratio of 1.07 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $118.53 and a two-hundred day moving average of $114.06.

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

BNY Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. BNY’s dividend payout ratio is currently 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.