The Bank of New York Mellon Co. (NYSE:BK - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $86.69 and last traded at $86.52, with a volume of 3248240 shares traded. The stock had previously closed at $85.90.
Analyst Upgrades and Downgrades
A number of research firms recently commented on BK. Bank of America upped their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Barclays upped their price target on 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. Morgan Stanley lifted their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Finally, Wolfe Research cut shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.00.
Read Our Latest Analysis on BK
Bank of New York Mellon Trading Down 0.6 %
The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company has a market capitalization of $62.53 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The firm has a fifty day moving average price of $80.29 and a 200-day moving average price of $73.91.
Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.
Bank of New York Mellon Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon's dividend payout ratio is presently 32.36%.
Hedge Funds Weigh In On Bank of New York Mellon
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. boosted its holdings in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after acquiring an additional 346 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the third 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. Grove Bank & Trust increased its stake in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock valued at $46,000 after buying an additional 144 shares during the period. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon in the 3rd quarter valued at approximately $46,000. Finally, Modus Advisors LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $49,000. Institutional investors own 85.31% of the company's stock.
About Bank of New York Mellon
(
Get Free Report)
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.
Further Reading
Before you consider Bank of New York Mellon, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of New York Mellon wasn't on the list.
While Bank of New York Mellon currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
