BNY (NYSE:BK) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• BNY has a consensus analyst rating of “Moderate Buy” from 13 brokerage firms, with an average 12-month price target of about $138.08.
• The company beat quarterly earnings expectations, reporting EPS of $2.25 versus $1.94 expected and revenue of $5.41 billion versus $5.14 billion expected, while revenue rose 12.9% year over year.
• BNY also recently paid a quarterly dividend of $0.53 per share, equal to an annualized yield of 1.6%, even as some insiders have sold shares over the past few months.

Shares of BNY (NYSE:BK - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $138.0769.

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of BNY from $130.00 to $142.00 and gave the company a "sector perform" rating in a report on Friday, April 17th. Weiss Ratings raised shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. Citigroup began coverage on shares of BNY in a research report on Monday, February 23rd. They set a "neutral" rating for the company. Morgan Stanley raised their target price on shares of BNY from $135.00 to $139.00 and gave the company an "equal weight" rating in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th.

Insider Transactions at BNY

In related news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president directly owned 15,206 shares of the company's stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider owned 17,259 shares of the company's stock, valued at $2,347,569.18. This represents a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 over the last three months. Corporate insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On BNY

Several large investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC increased its position in shares of BNY by 133.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank's stock valued at $9,998,000 after purchasing an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in BNY by 35.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank's stock valued at $3,487,000 after buying an additional 8,277 shares during the period. First National Advisers LLC bought a new stake in BNY in the third quarter worth $3,304,000. National Pension Service boosted its stake in BNY by 3.1% during the third quarter. National Pension Service now owns 2,053,278 shares of the bank's stock worth $223,725,000 after buying an additional 61,718 shares during the period. Finally, First National Bank of Omaha purchased a new position in BNY during the third quarter worth $3,044,000. Institutional investors own 85.31% of the company's stock.

BNY Price Performance

Shares of BNY stock opened at $134.89 on Friday. The company has a market capitalization of $92.84 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.99 and a beta of 1.08. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock's 50-day simple moving average is $125.55 and its 200-day simple moving average is $119.35. BNY has a 52 week low of $87.41 and a 52 week high of $139.15.

BNY (NYSE:BK - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same quarter last year, the business posted $1.58 earnings per share. The firm's revenue was up 12.9% on a year-over-year basis. As a group, analysts expect that BNY will post 8.78 earnings per share for the current fiscal year.

BNY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, April 27th. BNY's payout ratio is 26.27%.

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.

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