Bank of New York Mellon (NYSE:BK) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Bank of New York Mellon (NYSE:BK) from a buy rating to a hold rating in a report published on Wednesday morning.

A number of other equities research analysts have also commented on BK. Evercore ISI increased their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup increased their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Bank of America increased their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Down 0.6 %

BK stock opened at $88.36 on Wednesday. Bank of New York Mellon has a 1-year low of $52.64 and a 1-year high of $89.44. The firm has a market cap of $64.24 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.99 and a beta of 1.08. The business’s 50 day moving average is $81.71 and its 200-day moving average is $76.00. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the company posted $1.28 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Bank of New York Mellon will post 6.93 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Institutional Trading of Bank of New York Mellon

Several hedge funds and other institutional investors have recently modified their holdings of BK. WCG Wealth Advisors LLC grew its holdings in shares of Bank of New York Mellon by 4.7% in the 4th quarter. WCG Wealth Advisors LLC now owns 22,556 shares of the bank’s stock valued at $1,733,000 after acquiring an additional 1,011 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Bank of New York Mellon by 1,298.5% in the 4th quarter. Sunbelt Securities Inc. now owns 7,454 shares of the bank’s stock valued at $575,000 after acquiring an additional 6,921 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of Bank of New York Mellon by 32.3% in the 4th quarter. Vise Technologies Inc. now owns 11,805 shares of the bank’s stock valued at $907,000 after acquiring an additional 2,880 shares in the last quarter. Retirement Planning Group LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $210,000. Finally, City National Bank of Florida MSD bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $329,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.