BNY $BK Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY trimmed its position in shares of BNY (NYSE:BK) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,427 shares of the bank’s stock after selling 7,168 shares during the period. BNY makes up about 2.7% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 12th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in BNY were worth $30,349,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in BNY during the fourth quarter worth about $220,000. Sivia Capital Partners LLC lifted its stake in shares of BNY by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares in the last quarter. Level Four Advisory Services LLC purchased a new stake in shares of BNY during the 2nd quarter worth about $240,000. Fisher Asset Management LLC grew its holdings in shares of BNY by 13.4% during the 2nd quarter. Fisher Asset Management LLC now owns 6,843 shares of the bank’s stock worth $624,000 after purchasing an additional 806 shares during the period. Finally, Groupe la Francaise increased its position in BNY by 6.4% during the 2nd quarter. Groupe la Francaise now owns 4,567 shares of the bank’s stock worth $415,000 after purchasing an additional 275 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

BNY Stock Performance

Shares of NYSE:BK opened at $121.15 on Thursday. The business’s 50-day simple moving average is $118.40 and its 200 day simple moving average is $114.26. The company has a market cap of $83.38 billion, a P/E ratio of 16.35, a PEG ratio of 1.11 and a beta of 1.10. 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 has a one year low of $70.46 and a one year high of $128.76.

BNY (NYSE:BK) last released its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.11 billion. BNY had a return on equity of 14.37% and a net margin of 13.62%.BNY’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 EPS. On average, sell-side analysts forecast that BNY will post 6.96 earnings per share for the current fiscal year.

BNY Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio (DPR) is presently 28.61%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BK. Truist Financial raised their price target on shares of BNY from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Morgan Stanley dropped their price objective on shares of BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday. TD Cowen raised 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. Finally, Wells Fargo & Company lifted their target price 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 analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, BNY presently has a consensus rating of “Moderate Buy” and an average price target of $132.67.

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.