BNY (NYSE:BK) Given Consensus Rating of “Moderate Buy” by Analysts

BNY (NYSE:BK) has been given an average rating of “Moderate Buy” by the twelve research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $132.6667.

BK has been the topic of several recent analyst reports. Barclays upped their target price on shares of BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings raised BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Citigroup began coverage on BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. TD Cowen raised their price objective on BNY from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, New Street Research set a $143.00 price objective on BNY in a report on Wednesday, January 14th.

Institutional Investors Weigh In On BNY

Several institutional investors and hedge funds have recently made changes to their positions in BK. Linscomb Wealth Inc. raised its position in BNY by 2.5% during the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after acquiring an additional 80 shares during the last quarter. Ransom Advisory Ltd grew its position in shares of BNY by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after purchasing an additional 85 shares during the last quarter. Mather Group LLC. increased its stake in shares of BNY by 0.9% during the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after purchasing an additional 86 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of BNY by 3.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after purchasing an additional 88 shares in the last quarter. Finally, Essex Financial Services Inc. raised its position in shares of BNY by 0.5% during the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after purchasing an additional 89 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

BNY Price Performance

Shares of NYSE BK opened at $122.21 on Friday. The firm has a market capitalization of $84.11 billion, a P/E ratio of 16.49, a PEG ratio of 1.14 and a beta of 1.06. BNY has a one year low of $70.46 and a one year high of $128.76. The company’s fifty day moving average is $118.53 and its two-hundred day moving average is $114.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71.

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. BNY had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the firm posted $1.72 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts forecast that BNY will post 6.96 EPS for the current fiscal year.

BNY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.7%. BNY’s dividend payout ratio (DPR) is currently 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.