Nisa Investment Advisors LLC Buys 8,350 Shares of BNY $BK

Nisa Investment Advisors LLC grew its stake in BNY (NYSE:BK) by 21.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,515 shares of the bank’s stock after buying an additional 8,350 shares during the quarter. Nisa Investment Advisors LLC’s holdings in BNY were worth $5,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in BNY in the 3rd quarter worth $33,000. Caldwell Trust Co acquired a new stake in shares of BNY in the 2nd quarter valued at about $36,000. Westside Investment Management Inc. lifted its holdings in shares of BNY by 44.1% in 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 in the last quarter. Dunhill Financial LLC lifted its holdings in shares of BNY by 130.8% in 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 in the last quarter. Finally, Community Bank N.A. boosted its position in shares of BNY by 250.4% during the third quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after buying an additional 313 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

BNY Stock Performance

BK opened at $122.21 on Friday. The business’s 50-day simple moving average is $118.44 and its 200 day simple moving average is $114.31. BNY has a 52-week low of $70.46 and a 52-week high of $128.76. 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 firm has a market capitalization of $84.11 billion, a PE ratio of 16.49, a PEG ratio of 1.13 and a beta of 1.06.

BNY (NYSE:BK) last posted its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.11. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.11 billion. BNY had a return on equity of 14.37% and a net margin of 13.62%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. As a group, sell-side analysts expect that BNY will post 6.96 earnings per share for the current fiscal year.

BNY Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors 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 annualized dividend and a dividend yield of 1.7%. BNY’s dividend payout ratio (DPR) is currently 28.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. 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. Keefe, Bruyette & Woods upped 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. Truist Financial raised their price target on shares of BNY from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays boosted their price objective on shares of BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Wells Fargo & Company increased their target price on shares of BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.67.

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.