BNY (NYSE:BK) Price Target Raised to $140.00 at Truist Financial

BNY (NYSE:BK) had its price target raised by Truist Financial from $136.00 to $140.00 in a report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the bank’s stock.

A number of other research analysts have also commented on BK. Citigroup started coverage on shares of BNY in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price target on BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Morgan Stanley lowered their price target on BNY from $147.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays boosted 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. Finally, New Street Research set a $143.00 target price on BNY in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, BNY has an average rating of “Moderate Buy” and a consensus target price of $132.67.

BNY Stock Performance

Shares of BK opened at $121.15 on Wednesday. The firm has a 50-day moving average price of $118.40 and a 200 day moving average price of $114.26. The firm has a market capitalization of $83.38 billion, a PE ratio of 16.35, a P/E/G ratio of 1.11 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. BNY has a 52-week low of $70.46 and a 52-week high of $128.76.

BNY (NYSE:BK) last released its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $1.72 EPS. On average, sell-side analysts anticipate that BNY will post 6.96 earnings per share for the current fiscal year.

BNY Dividend Announcement

The firm also recently declared 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 was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.7%. BNY’s payout ratio is 28.61%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Linscomb Wealth Inc. boosted its stake in shares of BNY by 2.5% during the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after acquiring an additional 80 shares in the last quarter. Ransom Advisory Ltd raised its position in shares of BNY by 1.3% during the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after purchasing an additional 85 shares during the period. Mather Group LLC. lifted its holdings in shares of BNY by 0.9% during the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 86 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of BNY by 3.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock valued at $326,000 after purchasing an additional 88 shares during the period. Finally, Essex Financial Services Inc. boosted its position in shares of BNY by 0.5% in the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after purchasing an additional 89 shares during the period. Institutional investors own 85.31% of the company’s stock.

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.