BNY (NYSE:BK) Price Target Cut to $135.00 by Analysts at Morgan Stanley

BNY (NYSE:BK) had its price objective lowered by Morgan Stanley from $147.00 to $135.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

Other equities analysts also recently issued reports about the company. Barclays upped their price target on BNY from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. 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 note on Wednesday, January 14th. Keefe, Bruyette & Woods upped their target price on BNY from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Truist Financial upgraded BNY from a “hold” rating to a “buy” rating and increased their price target for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Finally, Weiss Ratings raised BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.17.

BNY Stock Up 2.9%

NYSE:BK opened at $118.51 on Tuesday. The company’s 50-day simple moving average is $118.37 and its 200-day simple moving average is $114.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. BNY has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The stock has a market capitalization of $81.56 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.07 and a beta of 1.10.

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

BNY Dividend Announcement

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

Hedge Funds Weigh In On BNY

Hedge funds have recently made changes to their positions in the company. Abound Financial LLC purchased a new position in BNY in the 4th quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in BNY during the 4th quarter valued at about $27,000. MCF Advisors LLC increased its holdings in shares of BNY by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the period. Marquette Asset Management LLC increased its holdings in shares of BNY by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Finally, Heritage Wealth Advisors purchased a new position in shares of BNY in the fourth quarter worth about $31,000. 85.31% of the stock is 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.