Inlet Private Wealth LLC Has $2.77 Million Holdings in BNY $BK

Inlet Private Wealth LLC lessened its holdings in BNY (NYSE:BK) by 14.7% during the fourth quarter, HoldingsChannel reports. The fund owned 23,823 shares of the bank’s stock after selling 4,100 shares during the quarter. Inlet Private Wealth LLC’s holdings in BNY were worth $2,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of BNY by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 valued at $771,080,000 after buying an additional 6,119,749 shares during the last quarter. First Trust Advisors LP increased its stake in BNY by 1.5% in the 3rd 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 last quarter. AQR Capital Management LLC increased its stake in BNY by 29.1% in the 3rd 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 last quarter. Finally, Barclays PLC increased its stake in BNY by 1.4% in the 3rd quarter. Barclays PLC now owns 2,372,430 shares of the bank’s stock valued at $258,500,000 after buying an additional 31,643 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Truist Financial increased their price objective on shares of BNY from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Barclays increased their price objective on shares of BNY from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley decreased their price objective on shares of BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Finally, Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, BNY presently has an average rating of “Moderate Buy” and a consensus price target of $132.67.

BNY Stock Up 1.1%

BNY stock opened at $123.50 on Tuesday. BNY has a twelve month low of $70.46 and a twelve month high of $128.76. The firm has a 50 day moving average price of $118.61 and a 200-day moving average price of $114.64. The company has a market capitalization of $85.00 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.14 and a beta of 1.06. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

BNY (NYSE:BK) last released its earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the firm earned $1.72 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that BNY will post 6.96 EPS for the current year.

BNY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio is currently 28.61%.

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.