The Bank of New York Mellon Co. (NYSE:BK) Given Average Recommendation of “Moderate Buy” by Analysts

The Bank of New York Mellon Co. (NYSE:BK) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $65.23.

Several equities analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday. Barclays boosted their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday. Bank of America boosted their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. United Services Automobile Association grew its stake in Bank of New York Mellon by 6.9% in the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after buying an additional 1,640 shares during the last quarter. Searle & CO. acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $234,000. Wakefield Asset Management LLLP acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $3,740,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bank of New York Mellon by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after purchasing an additional 40,969 shares during the period. Finally, Janney Capital Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $243,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK opened at $65.71 on Thursday. The company has a fifty day moving average price of $59.36 and a two-hundred day moving average price of $56.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. Bank of New York Mellon has a 52 week low of $39.66 and a 52 week high of $65.90. The firm has a market capitalization of $49.14 billion, a PE ratio of 15.21, a P/E/G ratio of 1.31 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.89%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Bank of New York Mellon will post 5.49 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.47 per share. The ex-dividend date is Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.86%. Bank of New York Mellon’s payout ratio is 38.89%.

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.