BNY $BK Holdings Trimmed by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank trimmed its stake in BNY by 7.2%, selling 115,688 shares to hold 1,496,186 shares (about 0.21% of the company) valued at roughly $173.7 million at quarter-end.
• BNY beat quarterly estimates with EPS of $2.25 (vs. $1.94 expected) and revenue of $5.41 billion (+12.9% YoY); analysts have a consensus "Moderate Buy" and an average target of $137.35.
• Dividend and valuation: BNY declared a $0.53 quarterly dividend (annualized $2.12, yield ~1.6%, ex-dividend Apr 27, payable May 8) and trades at a P/E of about 16.8 with a market cap near $93.1 billion.

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of BNY (NYSE:BK - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,496,186 shares of the bank's stock after selling 115,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.21% of BNY worth $173,692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of BNY during the 4th quarter valued at about $27,000. Marquette Asset Management LLC grew its stake in shares of BNY by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of BNY in the 3rd quarter worth approximately $33,000. Westside Investment Management Inc. raised its holdings in shares of BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Finally, Dunhill Financial LLC lifted its stake in BNY by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after purchasing an additional 242 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

BNY Stock Up 0.1%

BNY stock opened at $135.24 on Monday. BNY has a twelve month low of $73.55 and a twelve month high of $137.54. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. The firm has a market cap of $93.07 billion, a PE ratio of 16.76, a P/E/G ratio of 1.07 and a beta of 1.06. The firm's 50 day moving average price is $120.29 and its two-hundred day moving average price is $115.99.

BNY (NYSE:BK - Get Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business posted $1.58 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts predict that BNY will post 6.96 EPS for the current fiscal year.

BNY Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY's dividend payout ratio (DPR) is presently 26.27%.

Analyst Ratings Changes

Several research analysts have issued reports on BK shares. JPMorgan Chase & Co. lifted their price target on shares of BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods increased their price objective on BNY from $143.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup initiated coverage on BNY in a research note on Monday, February 23rd. They set a "neutral" rating for the company. New Street Research set a $143.00 target price on BNY in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada boosted their target price on BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.35.

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.

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