Shares of The Bank of New York Mellon Co. (NYSE:BK – Get Free Report) have earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com 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 twelve-month price target among analysts that have issued ratings on the stock in the last year is $66.14.
A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays raised 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, July 15th. Finally, Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, July 15th.
Check Out Our Latest Analysis on Bank of New York Mellon
Insider Buying and Selling
Hedge Funds Weigh In On Bank of New York Mellon
Hedge funds have recently modified their holdings of the company. United Services Automobile Association increased its position in shares of Bank of New York Mellon by 6.9% in the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after acquiring an additional 1,640 shares during the period. Entropy Technologies LP purchased a new position in shares of Bank of New York Mellon during the first quarter valued at about $1,027,000. QRG Capital Management Inc. increased its position in shares of Bank of New York Mellon by 6.9% during the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after buying an additional 8,204 shares during the period. Searle & CO. purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $234,000. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Bank of New York Mellon during the first quarter valued at about $3,740,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.
Bank of New York Mellon Trading Down 0.5 %
Shares of BK stock opened at $67.89 on Friday. The company has a 50 day moving average of $63.72 and a 200-day moving average of $59.46. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. Bank of New York Mellon has a 12-month low of $39.66 and a 12-month high of $68.37. The firm has a market cap of $50.77 billion, a P/E ratio of 15.72, a PEG ratio of 1.18 and a beta of 1.09.
Bank of New York Mellon (NYSE:BK – Get Free Report) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the business posted $1.38 EPS. Bank of New York Mellon’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.
Featured Stories
- Five stocks we like better than Bank of New York Mellon
- How to Invest in the Best Canadian Stocks
- 3 Small Cap Stocks That Insiders Are Buying
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Analysts Forecast Big Upside for Western Digital—Don’t Miss Out
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- 3 Must-Own Stocks for Bullish Investors in Today’s Market
Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.