Truist Financial Boosts BNY (NYSE:BK) Price Target to $140.00

BNY (NYSE:BK) had its target price upped by stock analysts at Truist Financial from $136.00 to $140.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Truist Financial’s price target indicates a potential upside of 14.56% from the stock’s previous close.

Several other research analysts have also recently issued reports on BK. Wells Fargo & Company lifted their target price on shares of BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. Morgan Stanley reduced their price target on shares of BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citigroup assumed coverage on shares of BNY in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, New Street Research set a $143.00 target price on BNY in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.67.

BNY Trading Up 1.0%

NYSE BK opened at $122.21 on Wednesday. BNY has a 12 month low of $70.46 and a 12 month high of $128.76. The stock has a market cap of $84.11 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.13 and a beta of 1.06. The stock’s fifty day moving average price is $118.44 and its 200-day moving average price is $114.31. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

BNY (NYSE:BK) last posted its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.11. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.11 billion. BNY had a return on equity of 14.37% and a net margin of 13.62%.BNY’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, equities analysts forecast that BNY will post 6.96 EPS for the current fiscal year.

Institutional Investors Weigh In On BNY

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in shares of BNY by 17.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 141,899 shares of the bank’s stock worth $16,473,000 after buying an additional 21,506 shares during the last quarter. World Investment Advisors increased its holdings in BNY by 14.4% during the fourth quarter. World Investment Advisors now owns 72,285 shares of the bank’s stock valued at $8,391,000 after buying an additional 9,105 shares during the last quarter. Advisortrust Partners LLC bought a new position in BNY in the fourth quarter worth approximately $207,000. Corient Private Wealth LLC raised its position in BNY by 8.1% in the fourth quarter. Corient Private Wealth LLC now owns 257,048 shares of the bank’s stock worth $29,822,000 after acquiring an additional 19,341 shares during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of BNY during the 4th quarter worth $84,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.