Brokerages Set BNY (NYSE:BK) PT at $131.92

BNY (NYSE:BK) has earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $131.9167.

Several equities research analysts have recently commented on the stock. TD Cowen raised their price target on BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada upped 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. Truist Financial raised BNY from a “hold” rating to a “buy” rating and increased their target price for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Citigroup initiated coverage on BNY in a report on Monday, February 23rd. They set a “neutral” rating on the stock. 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 report on Wednesday, January 14th.

BNY Trading Up 0.4%

Shares of BK opened at $115.18 on Friday. The stock has a 50 day simple moving average of $118.41 and a 200-day simple moving average of $114.12. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market cap of $79.27 billion, a PE ratio of 15.54, a PEG ratio of 1.07 and a beta of 1.10. BNY has a 1 year low of $70.46 and a 1 year high of $128.76.

BNY (NYSE:BK) last issued its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.11. BNY had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that BNY will post 6.96 EPS for the current fiscal year.

BNY Announces Dividend

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 dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio (DPR) is currently 28.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Abound Financial LLC acquired a new position in shares of BNY during the fourth quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY in the 4th quarter valued at approximately $27,000. MCF Advisors LLC lifted its stake in BNY by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after acquiring an additional 101 shares in the last quarter. Marquette Asset Management LLC boosted its position in BNY by 174.7% during the 4th 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 last quarter. Finally, Heritage Wealth Advisors acquired a new position in BNY during the 4th quarter worth approximately $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.