South Shore Capital Advisors Takes Position in BNY $BK

South Shore Capital Advisors acquired a new stake in shares of BNY (NYSE:BK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,350 shares of the bank’s stock, valued at approximately $737,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Landaas & Co. WI ADV bought a new stake in shares of BNY during the fourth quarter valued at approximately $210,000. New Wave Wealth Advisors LLC increased its holdings in shares of BNY by 3.7% during the fourth quarter. New Wave Wealth Advisors LLC now owns 7,835 shares of the bank’s stock valued at $910,000 after acquiring an additional 279 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of BNY by 10.7% during the fourth quarter. Aaron Wealth Advisors LLC now owns 17,041 shares of the bank’s stock valued at $1,978,000 after acquiring an additional 1,642 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of BNY by 6.5% during the fourth quarter. Sound Income Strategies LLC now owns 82,620 shares of the bank’s stock valued at $10,024,000 after acquiring an additional 5,058 shares in the last quarter. Finally, Rathbones Group PLC increased its holdings in shares of BNY by 5.0% during the fourth quarter. Rathbones Group PLC now owns 63,019 shares of the bank’s stock valued at $7,316,000 after acquiring an additional 3,019 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the subject of several recent research reports. Truist Financial upped their price target on BNY from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Barclays upped their price target on BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wells Fargo & Company upped 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. New Street Research set a $143.00 price target on BNY in a report on Wednesday, January 14th. Finally, Weiss Ratings upgraded BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, BNY presently has a consensus rating of “Moderate Buy” and an average target price of $132.67.

BNY Stock Up 1.1%

Shares of NYSE:BK opened at $123.50 on Tuesday. The company has a market capitalization of $85.00 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $118.61 and a two-hundred day moving average price of $114.64. BNY has a 1 year low of $70.46 and a 1 year high of $128.76.

BNY (NYSE:BK) last announced its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 earnings per share (EPS) 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 for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. Analysts forecast that BNY will post 6.96 earnings per share for the current year.

BNY Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, January 23rd. BNY’s dividend payout ratio is 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.