BNY $BK Shares Acquired by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC raised its position in BNY (NYSE:BK) by 4.9% in Q4, buying an additional 13,448 shares to hold 287,293 shares valued at about $33.35 million.
• Other institutions made large moves — including a new ~$1.08 billion stake by Norges Bank and UBS Asset Management increasing to 7,076,729 shares (~$771M) — leaving institutional investors with 85.31% ownership of the stock.
• BNY reported an earnings beat with $2.08 EPS and $5.18B revenue for the quarter, paid a $0.53 quarterly dividend (annualized $2.12, ~1.8% yield), and carries a consensus "Moderate Buy" rating with a $131.92 target.

Exchange Traded Concepts LLC raised its position in shares of BNY (NYSE:BK - Free Report) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 287,293 shares of the bank's stock after purchasing an additional 13,448 shares during the period. Exchange Traded Concepts LLC's holdings in BNY were worth $33,352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BK. Norges Bank bought a new stake in shares of BNY during the second quarter valued at approximately $1,081,847,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in BNY by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock worth $771,080,000 after buying an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in BNY by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock worth $1,454,116,000 after buying an additional 2,034,781 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in BNY in the 2nd quarter valued at approximately $135,728,000. Finally, AQR Capital Management LLC increased its position in BNY by 29.1% in the 3rd quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank's stock valued at $438,418,000 after acquiring an additional 906,218 shares during the period. Institutional investors own 85.31% of the company's stock.

BNY Stock Performance

Shares of BK opened at $114.77 on Friday. 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 50 day moving average is $118.53 and its 200-day moving average is $113.92. BNY has a 12-month low of $70.46 and a 12-month high of $128.76. The stock has a market capitalization of $78.99 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.09 and a beta of 1.10.

BNY (NYSE:BK - Get Free Report) last released its earnings results on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, beating the consensus estimate of $1.97 by $0.11. BNY had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the business earned $1.72 earnings per share. The business's quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts anticipate that BNY will post 6.96 EPS for the current fiscal year.

BNY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. BNY's dividend payout ratio (DPR) is 28.61%.

Analyst Ratings Changes

BK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price target on BNY from $132.00 to $143.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 14th. TD Cowen raised their price target on BNY from $133.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, January 7th. Morgan Stanley upped their price objective on shares of BNY from $124.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. New Street Research set a $143.00 target price on shares of BNY in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company raised their target price on shares of BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 14th. 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $131.92.

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.

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