Northstar Advisory Group LLC Sells 13,107 Shares of BNY $BK

Northstar Advisory Group LLC reduced its stake in BNY (NYSE:BK) by 26.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,393 shares of the bank’s stock after selling 13,107 shares during the quarter. BNY makes up 1.5% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 21st largest holding. Northstar Advisory Group LLC’s holdings in BNY were worth $4,225,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in BNY during the third quarter valued at approximately $33,000. Caldwell Trust Co acquired a new stake in shares of BNY in the second quarter worth $36,000. Westside Investment Management Inc. lifted 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 buying an additional 127 shares during the last quarter. Dunhill Financial LLC boosted its holdings in shares of BNY by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after buying an additional 242 shares during the period. Finally, Community Bank N.A. boosted its holdings in shares of BNY by 250.4% during the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after buying an additional 313 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen lifted their target price on shares of BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. New Street Research set a $143.00 price target on BNY in a research report on Wednesday, January 14th. Truist Financial upgraded BNY from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Morgan Stanley increased their target price on BNY from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Citigroup initiated coverage on BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. One 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 stock. According to data from MarketBeat.com, BNY currently has an average rating of “Moderate Buy” and a consensus target price of $131.92.

BNY Stock Up 0.4%

BK opened at $115.18 on Tuesday. The company has a market capitalization of $79.27 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.07 and a beta of 1.10. 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’s fifty day moving average price is $118.41 and its two-hundred day moving average price is $114.12. BNY has a fifty-two week low of $70.46 and a fifty-two week high of $128.76.

BNY (NYSE:BK) last released its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. The company had revenue of $5.18 billion during 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 firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.72 EPS. On average, analysts anticipate that BNY will post 6.96 EPS for the current year.

BNY Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid 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 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.