The Bank of New York Mellon Co. (NYSE:BK) Receives $67.86 Average PT from Analysts

The Bank of New York Mellon Co. (NYSE:BK) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $69.38.

Several equities research analysts have issued reports on BK shares. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. The Goldman Sachs Group boosted their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup lifted their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Barclays upped their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th.

Insider Activity

In related news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

Several large investors have recently bought and sold shares of the business. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $30,000. Clearstead Trust LLC acquired a new position in Bank of New York Mellon in the second quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at about $32,000. Able Wealth Management LLC purchased a new position in Bank of New York Mellon during the 4th quarter worth approximately $32,000. Finally, Family Firm Inc. acquired a new position in Bank of New York Mellon during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.2 %

Shares of BK stock opened at $71.86 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. Bank of New York Mellon has a twelve month low of $39.66 and a twelve month high of $73.19. The company’s 50-day moving average price is $66.91 and its 200-day moving average price is $61.42. The stock has a market cap of $53.74 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.24 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. Bank of New York Mellon’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. As a group, equities analysts predict that Bank of New York Mellon will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a dividend of $0.47 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.62%. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.