OFI Invest Asset Management Sells 51,398 Shares of BNY $BK

OFI Invest Asset Management lessened its position in BNY (NYSE:BK) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 155,566 shares of the bank’s stock after selling 51,398 shares during the period. OFI Invest Asset Management’s holdings in BNY were worth $18,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BK. Thurston Springer Miller Herd & Titak Inc. bought a new position in BNY during the fourth quarter valued at approximately $27,000. Marquette Asset Management LLC lifted its position in BNY by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Valley Wealth Managers Inc. bought a new position in BNY during the third quarter valued at approximately $33,000. Caldwell Trust Co bought a new position in BNY during the second quarter valued at approximately $36,000. Finally, Westside Investment Management Inc. lifted its position in BNY by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after purchasing an additional 127 shares during the period. Institutional investors own 85.31% of the company’s stock.

BNY Stock Up 2.8%

Shares of BK stock opened at $128.08 on Thursday. BNY has a 12 month low of $72.11 and a 12 month high of $128.76. The stock has a market cap of $88.15 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.14 and a beta of 1.06. 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 simple moving average of $118.91 and a two-hundred day simple moving average of $114.85.

BNY (NYSE:BK) last announced its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 earnings per share (EPS) 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 net margin of 13.62% and a return on equity of 14.37%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. On average, research analysts expect that BNY will post 6.96 earnings per share for the current year.

BNY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. BNY’s dividend payout ratio is 28.61%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BK shares. Keefe, Bruyette & Woods increased their price objective on shares of BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada increased their price objective on shares of BNY from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. Wells Fargo & Company increased their price objective on shares of BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.50.

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.