BNY (NYSE:BK) Given New $140.00 Price Target at JPMorgan Chase & Co.

BNY (NYSE:BK) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $130.50 to $140.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 5.95% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company lifted their price target on BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Evercore set a $136.00 price objective on BNY in a report on Friday, April 17th. Morgan Stanley boosted their price objective on BNY from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. New Street Research set a $143.00 price target on shares of BNY in a research report on Wednesday, January 14th. Finally, Barclays lifted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.08.

BNY Stock Performance

BNY stock traded up $1.64 during midday trading on Monday, reaching $132.14. 1,932,339 shares of the company’s stock were exchanged, compared to its average volume of 3,792,721. BNY has a 52 week low of $86.52 and a 52 week high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $90.94 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.96 and a beta of 1.08. The stock’s 50-day simple moving average is $123.84 and its 200 day simple moving average is $118.32.

BNY (NYSE:BK) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. BNY had a return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the company posted $1.58 earnings per share. BNY’s quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts expect that BNY will post 8.76 earnings per share for the current fiscal year.

Insider Activity at BNY

In related news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This trade 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. 0.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BK. Ashton Thomas Private Wealth LLC lifted its stake in BNY by 133.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after purchasing an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in BNY by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after purchasing an additional 8,277 shares during the last quarter. First National Advisers LLC bought a new position in BNY in the third quarter worth approximately $3,304,000. National Pension Service raised its position in BNY by 3.1% in the third quarter. National Pension Service now owns 2,053,278 shares of the bank’s stock worth $223,725,000 after acquiring an additional 61,718 shares during the period. Finally, First Horizon Corp purchased a new position in shares of BNY during the 3rd quarter valued at $22,072,000. 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.