Shares of The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $77.08.
Several equities research analysts have weighed in on the company. Barclays upped their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Monday. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th.
Check Out Our Latest Research Report on BK
Bank of New York Mellon Trading Down 0.3 %
BK traded down $0.22 on Wednesday, reaching $77.73. 3,133,185 shares of the company traded hands, compared to its average volume of 3,856,090. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market cap of $56.52 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The firm has a fifty day simple moving average of $73.36 and a two-hundred day simple moving average of $65.57. Bank of New York Mellon has a one year low of $46.00 and a one year high of $80.29.
Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, 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 Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend 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%.
Insider Buying and Selling 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 value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was 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 of the company's stock, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in BK. McClarren Financial Advisors Inc. lifted its holdings in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after acquiring an additional 346 shares during the period. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. Fortitude Family Office LLC boosted its holdings in 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 buying an additional 346 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the third quarter valued at $46,000. Hedge funds and other institutional investors own 85.31% of the company's stock.
Bank of New York Mellon Company Profile
(
Get Free ReportThe 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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