Zacks Research Issues Optimistic Estimate for BK Earnings

The Bank of New York Mellon Co. (NYSE:BK) – Research analysts at Zacks Research upped their FY2027 EPS estimates for Bank of New York Mellon in a research report issued on Tuesday, March 11th. Zacks Research analyst R. Department now forecasts that the bank will post earnings per share of $8.74 for the year, up from their prior forecast of $8.73. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $6.96 per share.

Other equities analysts also recently issued reports about the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Truist Financial boosted their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Barclays boosted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Bank of New York Mellon Price Performance

NYSE BK opened at $81.87 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. Bank of New York Mellon has a 12-month low of $52.64 and a 12-month high of $90.34. The company has a market capitalization of $58.78 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The firm’s 50 day moving average is $84.30 and its 200-day moving average is $78.47.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors have recently modified their holdings of the business. Park Square Financial Group LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $158,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $61,945,000. REAP Financial Group LLC boosted its position in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after acquiring an additional 218 shares during the period. Yoffe Investment Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $784,000. Finally, Integrated Advisors Network LLC lifted its position in Bank of New York Mellon by 7.9% during the fourth quarter. Integrated Advisors Network LLC now owns 3,881 shares of the bank’s stock worth $298,000 after purchasing an additional 283 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.30%. Bank of New York Mellon’s payout ratio is presently 32.36%.

About Bank of New York Mellon

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.