Bank of New York Mellon (NYSE:BK) Issues Quarterly Earnings Results

Bank of New York Mellon (NYSE:BK) released its quarterly earnings data on Wednesday. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18, RTT News reports. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. 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 business posted $1.28 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $81.95 on Thursday. Bank of New York Mellon has a 52 week low of $52.64 and a 52 week high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market cap of $59.58 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The stock has a 50 day moving average of $78.58 and a 200-day moving average of $71.94.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.29%. Bank of New York Mellon’s payout ratio is 40.87%.

Wall Street Analyst Weigh In

BK has been the topic of several research reports. UBS Group raised their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, Citigroup upped their target price 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $83.57.

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.