BNY (NYSE:BK) Receives $138.08 Consensus Price Target from Analysts

Shares of BNY (NYSE:BK) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $138.0769.

A number of equities analysts have recently commented on BK shares. Barclays boosted their price target on BNY from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Weiss Ratings raised BNY from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their price target on BNY from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price target on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Finally, Morgan Stanley boosted their price target on BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th.

Insiders Place Their Bets

In other news, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On BNY

A number of institutional investors and hedge funds have recently bought and sold shares of BK. Abound Financial LLC acquired a new position in BNY in the 4th quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BNY in the 4th quarter worth about $27,000. MCF Advisors LLC increased its holdings in BNY by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Marquette Asset Management LLC increased its holdings in BNY by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Heritage Wealth Advisors bought a new stake in shares of BNY in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

BNY Price Performance

Shares of NYSE BK opened at $137.67 on Friday. The stock has a market capitalization of $94.75 billion, a PE ratio of 17.06, a P/E/G ratio of 1.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The business has a fifty day moving average price of $127.25 and a two-hundred day moving average price of $120.25. BNY has a fifty-two week low of $87.41 and a fifty-two week high of $139.15.

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

BNY Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. BNY’s payout ratio is 26.27%.

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.