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

Shares of The Bank of New York Mellon Co. (NYSE:BK) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $69.38.

BK has been the topic of several recent analyst reports. Citigroup boosted their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Evercore ISI upped their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $80.00 in a report on Monday, September 23rd. Barclays upped their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday.

Bank of New York Mellon Trading Up 0.2 %

NYSE BK opened at $71.86 on Tuesday. Bank of New York Mellon has a one year low of $39.66 and a one year high of $73.19. The firm has a market cap of $53.74 billion, a PE ratio of 16.63, a P/E/G ratio of 1.24 and a beta of 1.08. The firm’s fifty day moving average is $66.91 and its two-hundred day moving average is $61.42. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the prior year, the business earned $1.38 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that Bank of New York Mellon will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Insider Activity

In related news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BK. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $30,000. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon in the 1st quarter valued at $32,000. Able Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth $32,000. Finally, Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $40,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

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.