BNY $BK Shares Acquired by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. raised its stake in shares of BNY (NYSE:BK) by 81.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,201 shares of the bank’s stock after purchasing an additional 10,893 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in BNY were worth $2,809,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Revolve Wealth Partners LLC purchased a new stake in shares of BNY during the 4th quarter valued at $220,000. Sivia Capital Partners LLC boosted its holdings in BNY by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after acquiring an additional 909 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in BNY during the second quarter valued at about $485,000. J.W. Cole Advisors Inc. grew its position in BNY by 10.4% during the second quarter. J.W. Cole Advisors Inc. now owns 17,374 shares of the bank’s stock valued at $1,583,000 after acquiring an additional 1,639 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in BNY by 1.3% during the second quarter. Quadrant Capital Group LLC now owns 21,410 shares of the bank’s stock worth $1,951,000 after acquiring an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

BNY Trading Down 1.6%

Shares of BK opened at $114.77 on Friday. BNY has a 12 month low of $70.46 and a 12 month high of $128.76. The stock’s 50-day moving average is $118.53 and its two-hundred day moving average is $113.99. 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 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.

BNY (NYSE:BK) last posted its earnings results 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 business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.11 billion. BNY had a return on equity of 14.37% and a net margin of 13.62%.The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 earnings per share. Equities analysts forecast that BNY will post 6.96 earnings per share for the current fiscal year.

BNY Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.8%. BNY’s dividend payout ratio (DPR) is 28.61%.

Analysts Set New Price Targets

A number of research firms have recently commented on BK. Citigroup assumed coverage on BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Morgan Stanley increased their target price 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. Barclays raised their price target on shares of BNY from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Finally, New Street Research set a $143.00 price objective on shares of BNY in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.92.

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.