Brokerages Set BNY (NYSE:BK) Target Price at $137.35

Shares of BNY (NYSE:BK) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $137.3462.

BK has been the topic of several recent research reports. Weiss Ratings raised shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. New Street Research set a $143.00 price objective on shares of BNY in a research report on Wednesday, January 14th. Barclays raised their price objective on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. 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 report on Wednesday, January 14th. Finally, TD Cowen increased their price target on BNY from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th.

Insider Buying and Selling

In other BNY news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. This trade represents 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 the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BNY

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Linscomb Wealth Inc. increased its stake in 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 buying an additional 80 shares during the period. Ransom Advisory Ltd increased its stake in BNY by 1.3% during the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after buying an additional 85 shares during the period. Mather Group LLC. increased its stake in BNY by 0.9% during the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after buying an additional 86 shares during the period. Parkside Financial Bank & Trust increased its stake in BNY by 3.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after buying an additional 88 shares during the period. Finally, Essex Financial Services Inc. increased its stake in BNY by 0.5% during the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

BNY Price Performance

Shares of BK opened at $134.10 on Wednesday. The firm has a market cap of $92.29 billion, a PE ratio of 16.62, a PEG ratio of 0.99 and a beta of 1.06. The firm’s 50 day moving average price is $121.70 and its 200 day moving average price is $116.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. BNY has a twelve month low of $77.77 and a twelve month high of $139.15.

BNY (NYSE:BK) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. As a group, research analysts expect that BNY will post 8.76 EPS for the current fiscal year.

BNY Dividend Announcement

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

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.