Morgan Stanley Lowers BNY (NYSE:BK) Price Target to $135.00

BNY (NYSE:BK) had its price objective dropped by equities research analysts at Morgan Stanley from $147.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s target price would suggest a potential upside of 11.43% from the company’s current price.

Several other brokerages also recently weighed in on BK. Keefe, Bruyette & Woods increased their price target on shares of BNY from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Truist Financial upgraded shares of BNY from a “hold” rating to a “buy” rating and lifted their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Royal Bank Of Canada upped their price objective on shares of BNY from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 price objective on shares of BNY in a research note on Wednesday, January 14th. Finally, Barclays raised their target price on shares of BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.67.

BNY Stock Performance

Shares of BK opened at $121.15 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50-day moving average of $118.40 and a two-hundred day moving average of $114.26. The stock has a market cap of $83.38 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.11 and a beta of 1.10. BNY has a one year low of $70.46 and a one year high of $128.76.

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. BNY had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts predict that BNY will post 6.96 EPS for the current year.

Institutional Investors Weigh In On BNY

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

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.