BNY (NYSE:BK) Receives Average Rating of “Moderate Buy” from Analysts

BNY (NYSE:BK) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $131.9167.

Several research firms recently commented on BK. TD Cowen increased their target price on BNY from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Citigroup initiated coverage on BNY in a report on Monday, February 23rd. They set a “neutral” rating for the company. Royal Bank Of Canada increased their price objective on BNY from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. Barclays raised their target price on BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Wells Fargo & Company boosted their target price on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th.

Institutional Inflows and Outflows

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

BNY Trading Down 1.6%

NYSE BK opened at $114.77 on Friday. BNY has a 52 week low of $70.46 and a 52 week high of $128.76. The firm has a 50 day moving average of $118.53 and a two-hundred day moving average of $113.92. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $78.99 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10.

BNY (NYSE:BK) last announced its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.11. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.11 billion. BNY had a net margin of 13.62% and a return on equity of 14.37%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $1.72 EPS. As a group, research analysts expect that BNY will post 6.96 EPS for the current fiscal year.

BNY Dividend Announcement

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