Matrix Asset Advisors Inc. NY Reduces Position in BNY $BK

Matrix Asset Advisors Inc. NY decreased its holdings in BNY (NYSE:BK) by 2.7% during the 4th quarter, HoldingsChannel reports. The fund owned 261,427 shares of the bank’s stock after selling 7,168 shares during the quarter. BNY comprises approximately 2.7% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 12th largest holding. Matrix Asset Advisors Inc. NY’s holdings in BNY were worth $30,349,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BK. Ashton Thomas Private Wealth LLC grew its position in shares of BNY by 133.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after acquiring an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of BNY by 35.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after acquiring an additional 8,277 shares in the last quarter. Investment Management Corp of Ontario raised its position in shares of BNY by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after acquiring an additional 25,842 shares in the last quarter. First National Advisers LLC bought a new position in BNY during the third quarter worth $3,304,000. Finally, First Horizon Corp acquired a new position in BNY in the third quarter worth $22,072,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

BNY Price Performance

Shares of NYSE BK opened at $121.15 on Thursday. BNY has a 1-year low of $70.46 and a 1-year high of $128.76. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The business’s fifty day moving average price is $118.40 and its two-hundred day moving average price is $114.26. The firm has a market capitalization of $83.38 billion, a PE ratio of 16.35, a P/E/G ratio of 1.11 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. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.11 billion. BNY had a net margin of 13.62% and a return on equity of 14.37%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, research analysts expect that BNY will post 6.96 EPS for the current year.

BNY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.7%. BNY’s dividend payout ratio (DPR) is currently 28.61%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of BNY from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Citigroup assumed coverage on shares of BNY in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Barclays increased their price objective on shares of BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Truist Financial raised their target price on shares of BNY from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. One 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.67.

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.