Sage Mountain Advisors LLC Takes $883,000 Position in BNY $BK

Key Points

• Sage Mountain Advisors bought a new stake of 7,608 shares in BNY (NYSE:BK) in Q4, valued at about $883,000.
• BNY beat quarterly estimates, reporting $2.08 EPS vs. $1.97 expected and $5.18B in revenue vs. $5.11B, with revenue up 6.8% year-over-year.
• 85.31% of BNY stock is owned by institutional investors; analysts have a "Moderate Buy" consensus with an average price target of $132.50, near the stock's 52‑week high.

Sage Mountain Advisors LLC bought a new stake in shares of BNY (NYSE:BK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,608 shares of the bank's stock, valued at approximately $883,000.

A number of other large investors have also recently made changes to their positions in BK. Ashton Thomas Private Wealth LLC raised its holdings in shares of BNY by 133.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank's stock valued at $9,998,000 after acquiring an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of BNY by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank's stock valued at $3,487,000 after acquiring an additional 8,277 shares in the last quarter. First National Advisers LLC bought a new stake in shares of BNY in the third quarter valued at about $3,304,000. First Horizon Corp bought a new stake in shares of BNY in the third quarter valued at about $22,072,000. Finally, National Pension Service raised its holdings in shares of BNY by 3.1% in the third quarter. National Pension Service now owns 2,053,278 shares of the bank's stock valued at $223,725,000 after acquiring an additional 61,718 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

BNY Price Performance

Shares of BK stock opened at $131.82 on Thursday. BNY has a fifty-two week low of $73.55 and a fifty-two week high of $132.35. The firm has a market capitalization of $90.72 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The stock's 50-day simple moving average is $119.79 and its 200-day simple moving average is $115.57.

BNY (NYSE:BK - Get Free Report) last issued 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 business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.11 billion. BNY had a return on equity of 14.37% and a net margin of 13.62%.The company's revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.72 earnings per share. As a group, equities analysts forecast that BNY will post 6.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on BK shares. Citigroup started coverage on BNY in a report on Monday, February 23rd. They issued a "neutral" rating for the company. Royal Bank Of Canada lifted their price objective on BNY from $124.00 to $130.00 and gave the company a "sector perform" rating in a report on Wednesday, January 14th. Morgan Stanley decreased their price objective on BNY from $147.00 to $135.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Truist Financial lifted their price objective on BNY from $136.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Finally, New Street Research set a $143.00 price objective on BNY in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.

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