Bank of New York Reports Q4 EPS Beat, While Revenues Miss
<p><a href='https://financialmodelingprep.com/financial-summary/BK'>Bank of New York (NYSE:BK)</a> reported its Q4 results, with EPS of $1.30 coming in better than the Street estimate of $1.08, while revenue was $3.9 billion, missing the Street estimate of $4.24 billion.</p>
<p>According to the analysts at Deutsche Bank, the quarterly results were relatively solid overall with particular strength coming from the top line as core total fee revenue and NIR were stronger than anticipated. </p>
<p>Importantly, the analysts see the company having the best incremental 2023 outlook within the trust bank sector this earnings season. Among the key drivers, the analysts mentioned: (1) a stronger net interest revenue trajectory into 2023, (2) underlying organic fee growth at a low single-digit pace, (3) a well-diversified business mix that is less equity sensitive, which the analysts see as an advantage this year, and (4) good expense control with a slower expense growth rate expected this year. The analysts raised their price target to $53 from $51, while reiterating their Hold rating.</p>

NYSE:BK