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

The Bank of New York Mellon Co. (NYSE:BK) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $77.23.

BK has been the topic of a number of recent research reports. Citigroup increased 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 note on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price target 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 report on Monday, September 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th.

Insider Transactions at Bank of New York Mellon

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

Institutional Investors Weigh In On Bank of New York Mellon

Several institutional investors and hedge funds have recently made changes to their positions in BK. Empowered Funds LLC boosted its holdings in Bank of New York Mellon by 28.1% in the first quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock valued at $612,000 after acquiring an additional 2,328 shares during the last quarter. Atomi Financial Group Inc. raised its stake in Bank of New York Mellon by 13.2% during the first quarter. Atomi Financial Group Inc. now owns 5,372 shares of the bank’s stock worth $310,000 after buying an additional 625 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Bank of New York Mellon by 7.9% in the first quarter. Concurrent Investment Advisors LLC now owns 7,469 shares of the bank’s stock valued at $430,000 after buying an additional 548 shares during the period. Headlands Technologies LLC bought a new stake in Bank of New York Mellon during the first quarter valued at $155,000. Finally, US Bancorp DE grew its holdings in Bank of New York Mellon by 3.5% during the 1st quarter. US Bancorp DE now owns 209,104 shares of the bank’s stock worth $12,049,000 after acquiring an additional 7,115 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK opened at $77.60 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. Bank of New York Mellon has a 12-month low of $46.71 and a 12-month high of $80.29. The business has a 50 day moving average of $74.41 and a 200-day moving average of $66.32. The stock has a market cap of $56.42 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.89 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, equities research analysts expect that Bank of New York Mellon will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

About Bank of New York Mellon

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.