BNY (NYSE:BK) Receives $131.92 Consensus Price Target from Analysts

BNY (NYSE:BK) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $132.6667.

BK has been the topic of several research analyst reports. Weiss Ratings upgraded BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Barclays raised their price objective on BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley decreased their target price on BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company upped their target price on BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Finally, Citigroup started coverage on shares of BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock.

BNY Trading Up 2.1%

NYSE:BK opened at $121.15 on Friday. The company has a market capitalization of $83.38 billion, a P/E ratio of 16.35, a PEG ratio of 1.11 and a beta of 1.10. 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 has a 12 month low of $70.46 and a 12 month high of $128.76. The firm has a fifty day simple moving average of $118.40 and a 200-day simple moving average of $114.26.

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

BNY Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid 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 is presently 28.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Abound Financial LLC purchased a new position in shares of BNY during the 4th quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of BNY in the fourth quarter worth about $27,000. MCF Advisors LLC boosted its stake in shares of BNY by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Marquette Asset Management LLC grew its holdings in 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 acquiring an additional 166 shares during the period. Finally, Heritage Wealth Advisors acquired a new stake in BNY during the fourth quarter worth about $31,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

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.