BNY (NYSE:BK) Price Target Raised to $130.50 at JPMorgan Chase & Co.

BNY (NYSE:BK) had its price target increased by JPMorgan Chase & Co. from $128.50 to $130.50 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Several other brokerages have also commented on BK. Wells Fargo & Company upped their price objective 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. Royal Bank Of Canada upped their price objective on shares of BNY from $124.00 to $130.00 and gave the stock 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 report on Wednesday, January 14th. Morgan Stanley decreased their price objective on shares of BNY from $147.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, BNY has a consensus rating of “Moderate Buy” and an average price target of $132.50.

BNY Trading Up 0.9%

NYSE:BK opened at $124.71 on Tuesday. The company has a fifty day moving average of $118.73 and a 200 day moving average of $114.76. BNY has a 52 week low of $72.11 and a 52 week high of $128.76. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $85.83 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.14 and a beta of 1.06.

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

BNY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. BNY’s dividend payout ratio is 28.61%.

Institutional Trading of BNY

Several institutional investors have recently bought and sold shares of BK. Northwestern Mutual Wealth Management Co. grew its position in BNY by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after purchasing an additional 19,561,793 shares during the last quarter. Norges Bank purchased a new stake in BNY during the 4th quarter valued at about $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in BNY by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after purchasing an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. grew its position in BNY by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in BNY during the 4th quarter valued at about $227,437,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Key BNY News

Here are the key news stories impacting BNY this week:

• Positive Sentiment: Analyst upgrade: JPMorgan raised its price target on BK to $130.50 and moved the stock to “Overweight,” citing upside vs. the current level — a vote of confidence that supports buying interest. Benzinga
• Positive Sentiment: Treasury designation: The U.S. Treasury named BNY Mellon a financial agent for the new “Trump Accounts” program — BNY will manage initial accounts and help build the Treasury-controlled app, creating potential asset custody, clearing and tech services revenue from millions of accounts. Reuters
• Positive Sentiment: Program scale: Reports indicate millions of signups already (roughly 4M) with a much larger eligible population, implying large, long-duration deposits and custody assets if the program scales as expected. This amplifies the potential revenue/asset impact of the Treasury award. Benzinga — program coverage
• Positive Sentiment: International growth: Singapore Gulf Bank joined BNY’s correspondent banking network and fixed-income brokerage platform — an incremental client win that strengthens international USD clearing and fees. PR Newswire
• Neutral Sentiment: Sector backdrop: Analysts expect major U.S. banks, including BNY Mellon, to report solid Q1 results, which supports the group but may limit stock-specific upside absent standout beats. ProactiveInvestors
• Neutral Sentiment: Crypto/strategy coverage: Media pieces note BNY’s role in infrastructure and partnerships (and related product strategy commentary), which is informative but not yet a material earnings driver. Yahoo Finance
• Negative Sentiment: Reputational/regulatory risk: The high-profile nature of the Treasury program and political framing could draw scrutiny or politicized backlash that introduces execution or PR risk even as revenue potential grows. Seeking Alpha

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.