The Bank of New York Mellon Co. (NYSE:BK - Free Report) - Investment analysts at Zacks Research dropped their Q1 2027 EPS estimates for shares of Bank of New York Mellon in a report released on Thursday, April 10th. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $1.99 per share for the quarter, down from their prior estimate of $2.00. The consensus estimate for Bank of New York Mellon's current full-year earnings is $6.96 per share. Zacks Research also issued estimates for Bank of New York Mellon's FY2027 earnings at $8.63 EPS.
Several other analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Citigroup boosted their price target on 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. UBS Group increased their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Bank of America upped their target price 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average price target of $89.64.
Read Our Latest Report on BK
Bank of New York Mellon Price Performance
Shares of BK traded up $0.22 during midday trading on Monday, reaching $77.74. The stock had a trading volume of 3,813,626 shares, compared to its average volume of 3,972,601. The company's 50-day moving average is $83.46 and its 200 day moving average is $80.28. The company has a market capitalization of $55.81 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. Bank of New York Mellon has a 12-month low of $52.64 and a 12-month high of $90.34. 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 results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share.
Hedge Funds Weigh In On Bank of New York Mellon
Several hedge funds and other institutional investors have recently modified their holdings of the business. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth $28,000. REAP Financial Group LLC lifted its stake in shares of Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth $33,000. Finally, South Plains Financial Inc. acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $34,000. 85.31% of the stock is owned by hedge funds and other institutional investors.
Bank of New York Mellon Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. Bank of New York Mellon's payout ratio is currently 30.62%.
About Bank of New York Mellon
(
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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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