BNY $BK Stock Holdings Trimmed by Matthew Goff Investment Advisor LLC

Matthew Goff Investment Advisor LLC reduced its stake in shares of BNY (NYSE:BK) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,011 shares of the bank’s stock after selling 11,949 shares during the period. BNY accounts for about 5.1% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 4th largest holding. Matthew Goff Investment Advisor LLC’s holdings in BNY were worth $30,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BK. Valley Wealth Managers Inc. purchased a new position in BNY during the third quarter worth approximately $33,000. Caldwell Trust Co acquired a new position in BNY during the second quarter worth $36,000. Westside Investment Management Inc. grew its holdings in BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after buying an additional 127 shares in the last quarter. Dunhill Financial LLC grew its holdings in BNY by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares in the last quarter. Finally, Community Bank N.A. increased its stake in shares of BNY by 250.4% in the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after acquiring an additional 313 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on BK shares. Wells Fargo & Company lifted their price target on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Weiss Ratings raised shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. Morgan Stanley raised their price objective on shares of BNY from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Citigroup initiated coverage on shares of BNY in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, Truist Financial upgraded shares of BNY from a “hold” rating to a “buy” rating and boosted their target price for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.92.

BNY Price Performance

Shares of BK opened at $114.77 on Monday. BNY has a 1-year low of $70.46 and a 1-year high of $128.76. The stock has a market cap of $78.99 billion, a PE ratio of 15.49, a P/E/G ratio of 1.07 and a beta of 1.10. The firm has a 50-day simple moving average of $118.53 and a two-hundred day simple moving average of $114.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

BNY (NYSE:BK) last issued its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, topping 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 firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts forecast that BNY will post 6.96 EPS for the current year.

BNY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. BNY’s payout ratio is presently 28.61%.

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.