Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 7,452 Shares of BNY $BK

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of BNY (NYSE:BK) by 4.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 162,971 shares of the bank’s stock after purchasing an additional 7,452 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in BNY were worth $18,919,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 worth $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of BNY by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of BNY in the second quarter valued at approximately $135,728,000. AQR Capital Management LLC grew its stake in BNY by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock worth $438,418,000 after purchasing an additional 906,218 shares in the last quarter. Finally, Danske Bank A S bought a new position in BNY in the third quarter worth approximately $65,973,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research analyst reports. Barclays lifted their target price on BNY from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods increased their price target on BNY from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Weiss Ratings upgraded BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Royal Bank Of Canada upped their price objective on shares of BNY from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Finally, TD Cowen increased their target price on shares of BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, BNY currently has an average rating of “Moderate Buy” and a consensus price target of $132.67.

BNY Stock Up 2.1%

BNY stock opened at $121.15 on Thursday. The business has a fifty day moving average of $118.40 and a two-hundred day moving average of $114.26. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market cap of $83.38 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.11 and a beta of 1.10. BNY has a twelve month low of $70.46 and a twelve month high of $128.76.

BNY (NYSE:BK) last announced its quarterly 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 for 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 was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $1.72 EPS. On average, analysts forecast that BNY will post 6.96 earnings per share for the current fiscal year.

BNY Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a dividend of $0.53 per share. 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 1.7%. BNY’s dividend payout ratio (DPR) is presently 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.