BNY (NYSE:BK) Receives Consensus Rating of “Moderate Buy” from Brokerages

BNY (NYSE:BK) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $131.9167.

Several analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of BNY in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods lifted their price target on shares of BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Barclays upped their price objective on BNY from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Wells Fargo & Company raised their target price on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley lifted their target price on BNY from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th.

BNY Stock Down 1.6%

NYSE BK opened at $114.77 on Friday. BNY has a 52 week low of $70.46 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 business’s fifty day simple moving average is $118.53 and its 200-day simple moving average is $113.92. The firm has a market cap of $78.99 billion, a PE ratio of 15.49, a P/E/G ratio of 1.09 and a beta of 1.10.

BNY (NYSE:BK) last announced its quarterly earnings data on Tuesday, January 13th. The bank reported $2.08 earnings per share (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 firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. BNY’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that BNY will post 6.96 earnings per share for the current year.

BNY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. BNY’s dividend payout ratio is presently 28.61%.

Institutional Inflows and Outflows

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

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.