L & S Advisors Inc Has $14.05 Million Stake in BNY $BK

L & S Advisors Inc increased its position in shares of BNY (NYSE:BK) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,993 shares of the bank’s stock after purchasing an additional 14,890 shares during the quarter. BNY makes up about 1.3% of L & S Advisors Inc’s holdings, making the stock its 18th biggest position. L & S Advisors Inc’s holdings in BNY were worth $14,046,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in BNY by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after purchasing an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in BNY by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in BNY by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after purchasing an additional 2,034,781 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 worth $771,080,000 after purchasing an additional 6,119,749 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in BNY by 1.5% during the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock worth $488,564,000 after purchasing an additional 66,010 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

BNY Stock Performance

NYSE BK opened at $134.89 on Friday. The company’s 50 day moving average is $125.55 and its 200-day moving average is $119.35. BNY has a 12-month low of $87.41 and a 12-month high of $139.15. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The firm has a market cap of $92.84 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08.

BNY (NYSE:BK) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts predict that BNY will post 8.78 earnings per share for the current year.

BNY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, April 27th. BNY’s dividend payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BK shares. JPMorgan Chase & Co. boosted their price target on shares of BNY from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Evercore set a $136.00 target price on shares of BNY in a research note on Friday, April 17th. Morgan Stanley boosted their target price on shares of BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. Barclays boosted their target price on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Citigroup assumed coverage on shares of BNY in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, BNY presently has an average rating of “Moderate Buy” and a consensus price target of $138.08.

Insider Activity

In related news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the sale, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. Insiders own 0.17% of the company’s stock.

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.