Exchange Traded Concepts LLC Has $33.35 Million Holdings in BNY $BK

Exchange Traded Concepts LLC increased its position in BNY (NYSE:BK) by 4.9% in the fourth quarter, according to its most recent 13F filing with the SEC. 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 reporting period.

Several other large investors also recently added to or reduced their stakes in BK. Ameriprise Financial Inc. lifted its holdings in shares of BNY by 18.0% in 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. Norges Bank purchased a new position in shares of BNY during the second quarter valued at $1,081,847,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of BNY by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after buying an additional 6,119,749 shares in the last quarter. First Trust Advisors LP raised its position in BNY by 1.5% during the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock valued at $488,564,000 after buying an additional 66,010 shares during the period. Finally, AQR Capital Management LLC raised its position in BNY by 29.1% during the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after buying an additional 906,218 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada increased their price target on shares of BNY from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Truist Financial upgraded shares of BNY from a “hold” rating to a “buy” rating and raised their price target for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. New Street Research set a $143.00 price objective on shares of BNY in a research report on Wednesday, January 14th. Finally, Barclays increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.92.

BNY Stock Down 1.6%

Shares of BK stock opened at $114.77 on Friday. The stock’s 50 day simple moving average is $118.53 and its 200 day simple moving average is $113.92. BNY has a twelve month low of $70.46 and a twelve month 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 company has a market capitalization of $78.99 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.09 and a beta of 1.10.

BNY (NYSE:BK) last announced its earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. BNY had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts predict that BNY will post 6.96 EPS for the current year.

BNY Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio is currently 28.61%.

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.