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

Shares of BNY (NYSE:BK) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $137.3462.

Several equities analysts recently commented on the company. Royal Bank Of Canada boosted their target price on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. lifted their price target on BNY from $128.50 to $130.50 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Morgan Stanley lifted their price target on BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Barclays lifted their price target on BNY from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, Evercore set a $136.00 price target on BNY in a research note on Friday, April 17th.

Insider Transactions at BNY

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, the executive vice president owned 50,238 shares of the company’s stock, valued at $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BNY

Hedge funds have recently added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in shares of BNY in the 4th quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of BNY in the 4th quarter valued at about $27,000. MCF Advisors LLC lifted its stake in shares of 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 during the last quarter. Marquette Asset Management LLC lifted its stake in shares of BNY by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Finally, Heritage Wealth Advisors bought a new stake in shares of BNY in the 4th quarter valued at about $31,000. Institutional investors own 85.31% of the company’s stock.

BNY Price Performance

BNY stock opened at $133.63 on Wednesday. BNY has a 52 week low of $77.77 and a 52 week high of $139.15. The business has a 50-day simple moving average of $122.33 and a 200 day simple moving average of $117.42. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $91.97 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.98 and a beta of 1.06.

BNY (NYSE:BK) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $1.94 by $0.31. BNY had a return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the business earned $1.58 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that BNY will post 8.76 earnings per share for the current fiscal year.

BNY Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Monday, April 27th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.6%. BNY’s payout ratio is 26.27%.

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.