Weekly Research Analysts’ Ratings Updates for Bank of New York Mellon (BK)

A number of firms have modified their ratings and price targets on shares of Bank of New York Mellon (NYSE: BK) recently:

• 12/14/2024 – Bank of New York Mellon was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 12/9/2024 – Bank of New York Mellon was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $94.00 price target on the stock, up previously from $82.00.
• 12/6/2024 – Bank of New York Mellon was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 12/3/2024 – Bank of New York Mellon had its price target raised by analysts at Keefe, Bruyette & Woods from $87.00 to $96.00. They now have an “outperform” rating on the stock.
• 11/25/2024 – Bank of New York Mellon had its price target raised by analysts at Citigroup Inc. from $75.00 to $82.00. They now have a “neutral” rating on the stock.
• 11/19/2024 – Bank of New York Mellon was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/15/2024 – Bank of New York Mellon had its price target raised by analysts at Wells Fargo & Company from $79.00 to $81.00. They now have an “equal weight” rating on the stock.
• 11/11/2024 – Bank of New York Mellon was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/11/2024 – Bank of New York Mellon had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $82.00 to $85.00. They now have a “buy” rating on the stock.

Bank of New York Mellon Trading Up 0.6 %

Bank of New York Mellon stock traded up $0.48 during midday trading on Tuesday, reaching $78.05. 1,236,499 shares of the stock traded hands, compared to its average volume of 3,861,769. 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 firm has a market cap of $56.75 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The company has a 50-day simple moving average of $78.22 and a two-hundred day simple moving average of $69.88. The Bank of New York Mellon Co. has a 12-month low of $51.35 and a 12-month high of $82.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Research analysts expect that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.41%. Bank of New York Mellon’s payout ratio is 40.87%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

A number of institutional investors have recently modified their holdings of BK. McClarren Financial Advisors Inc. lifted its holdings in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares during the period. Clearstead Trust LLC purchased a new position in Bank of New York Mellon during the second quarter worth about $32,000. Fortitude Family Office LLC lifted its position in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at approximately $46,000. Finally, Grove Bank & Trust raised its stake in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

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.