Zurcher Kantonalbank Zurich Cantonalbank Sells 115,688 Shares of BNY $BK

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in BNY (NYSE:BK – Free Report) by 7.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,496,186 shares of the bank’s stock after selling 115,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BNY were worth $173,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in BNY by 18.0% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of BNY by 639.5% during 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 purchasing an additional 6,119,749 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of BNY by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock valued at $488,564,000 after purchasing an additional 66,010 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of BNY by 29.1% during the 3rd quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after purchasing an additional 906,218 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of BNY by 14.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,483,240 shares of the bank’s stock valued at $288,279,000 after purchasing an additional 317,188 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday. Evercore set a $136.00 target price on BNY in a report on Friday. Wells Fargo & Company boosted their price target on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada upped their price target on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods increased their price objective on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.35.

Read Our Latest Analysis on BK

BNY Price Performance

NYSE BK opened at $135.24 on Monday. BNY has a 1 year low of $73.55 and a 1 year high of $137.54. The company has a fifty day simple moving average of $120.29 and a 200 day simple moving average of $115.99. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The company has a market cap of $93.07 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.07 and a beta of 1.06.

BNY (NYSE:BK – Get Free Report) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping 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 firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the firm posted $1.58 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that BNY will post 6.96 EPS for the current year.

BNY Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.6%. BNY’s payout ratio is presently 26.27%.

BNY Profile

(Free Report)

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.

Further Reading

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