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

Shares of The Bank of New York Mellon Co. (NYSE:BK) have received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $89.50.

A number of analysts have recently issued reports on BK shares. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial raised their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group increased their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $83.46 on Tuesday. Bank of New York Mellon has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a market cap of $59.92 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The business’s 50 day moving average price is $84.88 and its two-hundred day moving average price is $79.02. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the firm earned $1.28 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Institutional Trading of Bank of New York Mellon

A number of hedge funds and other institutional investors have recently modified their holdings of BK. Norges Bank acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $1,150,462,000. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the period. Northern Trust Corp grew its stake in shares of Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock worth $732,468,000 after purchasing an additional 1,526,686 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $90,955,000. Institutional investors own 85.31% of the company’s stock.

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.