The Bank of New York Mellon Co. (NYSE:BK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of The Bank of New York Mellon Co. (NYSE:BK) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $82.00.

Several research firms recently issued reports on BK. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Evercore ISI boosted their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Finally, Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday.

Insider Activity

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

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds have recently made changes to their positions in the business. McClarren Financial Advisors Inc. increased its holdings in 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 buying an additional 346 shares during the last quarter. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $32,000. Fortitude Family Office LLC increased its stake in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $49,000. Finally, Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the third quarter valued at approximately $46,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BK opened at $77.91 on Thursday. The business has a 50-day moving average of $78.44 and a 200-day moving average of $71.19. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $56.65 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. Bank of New York Mellon has a 1 year low of $52.09 and a 1 year high of $82.72.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. As a group, equities research analysts anticipate that Bank of New York Mellon will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

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.