The Bank of New York Mellon Co. (NYSE:BK) Receives $89.50 Consensus PT from Brokerages

The Bank of New York Mellon Co. (NYSE:BK) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $89.71.

A number of research firms recently issued reports on BK. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company upped their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th.

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds have recently bought and sold shares of the business. Assetmark Inc. increased its position in shares of Bank of New York Mellon by 64.7% in the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock worth $134,000 after purchasing an additional 734 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Bank of New York Mellon by 1.0% in the third quarter. OneDigital Investment Advisors LLC now owns 24,941 shares of the bank’s stock valued at $1,792,000 after buying an additional 259 shares during the last quarter. Empowered Funds LLC raised its stake in Bank of New York Mellon by 9.2% during the third quarter. Empowered Funds LLC now owns 13,760 shares of the bank’s stock valued at $989,000 after buying an additional 1,162 shares in the last quarter. Claro Advisors LLC bought a new position in Bank of New York Mellon during the 3rd quarter worth approximately $299,000. Finally, Drive Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $244,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.4 %

Shares of BK opened at $84.76 on Tuesday. Bank of New York Mellon has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The stock has a fifty day moving average of $85.06 and a two-hundred day moving average of $79.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company has a market capitalization of $60.86 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. As a group, analysts forecast that Bank of New York Mellon will post 6.96 EPS for the current year.

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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

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.