The Bank of New York Mellon Co. (NYSE:BK) Forecasted to Post FY2024 Earnings of $5.67 Per Share

The Bank of New York Mellon Co. (NYSE:BK - Free Report) - Equities researchers at Seaport Res Ptn boosted their FY2024 EPS estimates for shares of Bank of New York Mellon in a research report issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now anticipates that the bank will earn $5.67 per share for the year, up from their prior forecast of $5.60. The consensus estimate for Bank of New York Mellon's current full-year earnings is $5.63 per share. Seaport Res Ptn also issued estimates for Bank of New York Mellon's Q2 2025 earnings at $1.68 EPS, Q3 2025 earnings at $1.65 EPS, Q4 2025 earnings at $1.78 EPS and FY2025 earnings at $6.45 EPS.

Other analysts have also issued research reports about the stock. Barclays boosted their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a "hold" rating to a "buy" rating and lifted their price objective for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Citigroup upped their price objective on shares of 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. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Evercore ISI lifted their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an "in-line" rating in a research note on Monday, July 15th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.38.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded up $1.17 during midday trading on Friday, reaching $71.99. The stock had a trading volume of 2,361,420 shares, compared to its average volume of 3,842,556. The firm has a market capitalization of $53.84 billion, a PE ratio of 16.39, a P/E/G ratio of 1.24 and a beta of 1.08. Bank of New York Mellon has a 12 month low of $39.66 and a 12 month high of $73.19. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm's 50-day moving average price is $67.33 and its 200 day moving average price is $61.66.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share.

Bank of New York Mellon Increases Dividend

The company 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 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Monday, July 22nd. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.42. Bank of New York Mellon's dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the 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 completion of the sale, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BK. Vanguard Group Inc. lifted its position in Bank of New York Mellon by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank's stock valued at $3,877,801,000 after acquiring an additional 4,293,751 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after purchasing an additional 421,161 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Bank of New York Mellon by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank's stock worth $490,640,000 after purchasing an additional 179,503 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Bank of New York Mellon by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank's stock worth $482,597,000 after buying an additional 97,286 shares during the last quarter. Finally, LSV Asset Management increased its position in Bank of New York Mellon by 3.9% during the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank's stock valued at $453,315,000 after buying an additional 286,820 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

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.