Jim Cramer's Charitable Trust bought 75 shares of BNY at about $150, raising its holding to 750 shares and its portfolio weight to 2.85% from about 2.56%. The purchase lowers the average cost basis, following earlier purchases at roughly $138 on Oct. 15, the day the bank reported earnings. The trust says the bank beat earnings expectations two weeks ago, helping end a slide that began in September, though shares remain about 10% below their September closing high of $164.84. The stock trades at 14.4x 2027 earnings estimates per FactSet, which the trust views as undemanding. It expects the stock could rise if BNY wins more client business and grows its fee-based revenue, supporting P/E expansion.
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Original headline: We’re adding to our position in a rebounding bank stock
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