The Bank of New York Mellon Co. (NYSE:BK) Receives Average Rating of "Moderate Buy" from Analysts

Shares of The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fifteen research firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $89.64.

A number of analysts have issued reports on BK shares. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Truist Financial cut their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Monday. Citigroup lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. 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. Finally, Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st.

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Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after buying an additional 3,732,862 shares during the last quarter. Norges Bank acquired a new position in Bank of New York Mellon during the fourth quarter worth approximately $1,150,462,000. Ameriprise Financial Inc. raised its position in Bank of New York Mellon by 0.3% in the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after purchasing an additional 35,413 shares during the last quarter. Northern Trust Corp increased its stake in Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after purchasing an additional 1,526,686 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after purchasing an additional 1,125,493 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BK traded down $1.70 during midday trading on Friday, hitting $76.07. 2,515,526 shares of the company traded hands, compared to its average volume of 3,967,648. The business has a 50 day simple moving average of $83.29 and a two-hundred day simple moving average of $80.26. Bank of New York Mellon has a 52-week low of $52.64 and a 52-week high of $90.34. The company has a market capitalization of $54.62 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.97 and a beta of 1.03. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the firm posted $1.29 EPS. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts forecast that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

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.