The Bank of New York Mellon Co. (NYSE:BK - Free Report) - Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for shares of Bank of New York Mellon in a research report issued on Sunday, July 14th. Seaport Res Ptn analyst J. Mitchell now anticipates that the bank will post earnings per share of $5.60 for the year, up from their previous forecast of $5.55. The consensus estimate for Bank of New York Mellon's current full-year earnings is $5.49 per share. Seaport Res Ptn also issued estimates for Bank of New York Mellon's Q2 2025 earnings at $1.67 EPS, Q3 2025 earnings at $1.59 EPS, Q4 2025 earnings at $1.74 EPS and FY2025 earnings at $6.30 EPS.
Other research analysts have also issued reports about the stock. Barclays upped their target price on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an "overweight" rating in a report on Monday. Citigroup downgraded shares of Bank of New York Mellon from a "buy" rating to a "neutral" rating and set a $65.00 price objective on the stock. in a research note on Monday. Jefferies Financial Group lifted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday. Finally, Bank of America raised their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $65.23.
View Our Latest Report on Bank of New York Mellon
Bank of New York Mellon Price Performance
Shares of NYSE:BK traded down $0.70 on Tuesday, hitting $65.01. The company had a trading volume of 5,197,529 shares, compared to its average volume of 3,760,330. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a market cap of $48.62 billion, a PE ratio of 15.05, a PEG ratio of 1.31 and a beta of 1.09. Bank of New York Mellon has a 52-week low of $39.66 and a 52-week high of $65.90. The business has a 50 day moving average of $59.51 and a 200 day moving average of $56.90.
Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.89% and a net margin of 9.40%. Bank of New York Mellon's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS.
Hedge Funds Weigh In On Bank of New York Mellon
A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $813,701,000. Vanguard Group Inc. raised its stake in Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank's stock valued at $3,877,801,000 after buying an additional 4,293,751 shares in the last quarter. KBC Group NV grew its position in shares of Bank of New York Mellon by 217.0% in the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank's stock worth $79,558,000 after acquiring an additional 1,046,298 shares in the last quarter. M&G Plc bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $55,543,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bank of New York Mellon by 153.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank's stock valued at $80,913,000 after acquiring an additional 941,193 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.
Insider Transactions at Bank of New York Mellon
In other news, VP Catherine Keating sold 54,070 shares of the firm's stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares of the company's stock, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business's stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares of the company's stock, valued at $8,343,165.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine Keating sold 54,070 shares of the company's stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares of the company's stock, valued at $4,299,848. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,928 shares of company stock worth $6,475,216. 0.14% of the stock is currently owned by company insiders.
Bank of New York Mellon Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd will be paid a $0.47 dividend. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Monday, July 22nd. Bank of New York Mellon's payout ratio is currently 38.89%.
Bank of New York Mellon Company Profile
(
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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.
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