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

Shares of The Bank of New York Mellon Co. (NYSE:BK) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $88.00.

A number of research analysts have issued reports on BK shares. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Barclays increased their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Truist Financial increased their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th.

Hedge Funds Weigh In On Bank of New York Mellon

Several institutional investors and hedge funds have recently added to or reduced their stakes in BK. Norges Bank acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $1,150,462,000. FMR LLC boosted its stake in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Bank of New York Mellon by 19.1% in the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock valued at $732,468,000 after purchasing an additional 1,526,686 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $90,955,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $86.70 on Friday. The stock has a market capitalization of $63.04 billion, a PE ratio of 14.92, a P/E/G ratio of 0.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business has a fifty day moving average price of $82.38 and a two-hundred day moving average price of $76.80. Bank of New York Mellon has a fifty-two week low of $52.64 and a fifty-two week high of $89.44.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm earned $1.28 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts predict that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.