Northstar Advisory Group LLC Has $4.23 Million Holdings in BNY $BK

Northstar Advisory Group LLC cut its position in shares of BNY (NYSE:BK) by 26.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,393 shares of the bank’s stock after selling 13,107 shares during the quarter. BNY accounts for 1.5% of Northstar Advisory Group LLC’s portfolio, making the stock its 21st largest position. Northstar Advisory Group LLC’s holdings in BNY were worth $4,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in BK. Valley Wealth Managers Inc. acquired a new stake in shares of BNY during the third quarter valued at approximately $33,000. Caldwell Trust Co acquired a new position in BNY in the 2nd quarter worth approximately $36,000. Westside Investment Management Inc. grew its position in BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Dunhill Financial LLC grew its position in BNY by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares in the last quarter. Finally, Community Bank N.A. raised its stake in BNY by 250.4% during the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock valued at $48,000 after purchasing an additional 313 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BK shares. Truist Financial upgraded BNY from a “hold” rating to a “buy” rating and increased their target price for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Barclays upped their price target on BNY from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Royal Bank Of Canada raised their price objective on BNY from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their target price on BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, TD Cowen increased their price target on shares of BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. 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 stock. According to data from MarketBeat.com, BNY has an average rating of “Moderate Buy” and an average target price of $131.92.

BNY Stock Performance

Shares of BK stock opened at $115.18 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. BNY has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The stock’s 50-day moving average is $118.41 and its two-hundred day moving average is $114.12. The firm has a market cap of $79.27 billion, a P/E ratio of 15.54, a PEG ratio of 1.07 and a beta of 1.10.

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 the consensus estimate of $1.97 by $0.11. BNY had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the previous year, the company earned $1.72 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. Analysts predict that BNY will post 6.96 earnings per share for the current fiscal year.

BNY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. BNY’s dividend payout ratio (DPR) is 28.61%.

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.