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

Hennion & Walsh Asset Management Inc. boosted its stake in BNY (NYSE:BK) by 21.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,934 shares of the bank’s stock after acquiring an additional 9,287 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in BNY were worth $6,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Redhawk Wealth Advisors Inc. lifted its stake in shares of BNY by 81.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 24,201 shares of the bank’s stock valued at $2,809,000 after purchasing an additional 10,893 shares in the last quarter. Cypress Wealth Services LLC grew its holdings in shares of BNY by 37.1% during the 4th quarter. Cypress Wealth Services LLC now owns 2,811 shares of the bank’s stock worth $326,000 after purchasing an additional 760 shares during the period. Eastern Bank increased its position in BNY by 54.5% during the 4th quarter. Eastern Bank now owns 1,431 shares of the bank’s stock worth $166,000 after purchasing an additional 505 shares in the last quarter. Woodward Diversified Capital LLC raised its holdings in BNY by 8.0% in the fourth quarter. Woodward Diversified Capital LLC now owns 8,099 shares of the bank’s stock valued at $940,000 after buying an additional 598 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in BNY by 4.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 287,293 shares of the bank’s stock valued at $33,352,000 after buying an additional 13,448 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of several research reports. Truist Financial upgraded shares of BNY from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. 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. Keefe, Bruyette & Woods lifted 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. Royal Bank Of Canada upped their price target on shares of BNY from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, Citigroup began coverage on BNY in a report on Monday, February 23rd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, BNY currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

BNY Price Performance

BK opened at $114.77 on Monday. The company has a market capitalization 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 50-day moving average of $118.53 and a 200-day moving average of $114.06. 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 1-year low of $70.46 and a 1-year high of $128.76.

BNY (NYSE:BK) last issued its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, topping the consensus estimate of $1.97 by $0.11. The business had revenue of $5.18 billion for 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 earnings per share. Equities analysts expect that BNY will post 6.96 EPS for the current fiscal year.

BNY Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders 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 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio (DPR) is currently 28.61%.

About BNY

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.