Wealthfront Advisers LLC Grows Stock Holdings in BNY $BK

Wealthfront Advisers LLC raised its position in shares of BNY (NYSE:BK) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,358 shares of the bank’s stock after purchasing an additional 3,822 shares during the period. Wealthfront Advisers LLC’s holdings in BNY were worth $11,418,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in BNY by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after purchasing an additional 647,847 shares in the last quarter. Ameriprise Financial Inc. raised its position in BNY by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 purchasing an additional 6,119,749 shares during the period. First Trust Advisors LP raised its position in BNY by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock worth $488,564,000 after purchasing an additional 66,010 shares during the period. Finally, AQR Capital Management LLC raised 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 worth $438,418,000 after purchasing an additional 906,218 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

BNY Stock Down 1.1%

BK opened at $132.05 on Thursday. The company has a market cap of $90.88 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.98 and a beta of 1.06. The business’s 50-day moving average price is $122.58 and its 200-day moving average price is $117.52. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. BNY has a 12 month low of $77.77 and a 12 month high of $139.15.

BNY (NYSE:BK) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. On average, equities analysts expect that BNY will post 8.76 EPS for the current year.

BNY Dividend Announcement

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

Wall Street Analysts Forecast Growth

BK has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Morgan Stanley lifted their price objective on BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. JPMorgan Chase & Co. lifted their price objective on BNY from $128.50 to $130.50 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Royal Bank Of Canada lifted their price objective on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Finally, Evercore set a $136.00 price objective on BNY in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.35.

Insiders Place Their Bets

In related news, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock valued at $6,568,423 over the last three months. Company insiders own 0.17% of the company’s stock.

BNY Company 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.