Investment Analysts’ Weekly Ratings Changes for Bank of New York Mellon (BK)

Posted by Stacy Sanders on Dec 4th, 2024

A number of research firms have changed their ratings and price targets for Bank of New York Mellon (NYSE: BK):

12/3/2024 – Bank of New York Mellon had its price target raised by analysts at Keefe, Bruyette & Woods from $87.00 to $96.00. They now have an “outperform” rating on the stock.
11/25/2024 – Bank of New York Mellon had its price target raised by analysts at Citigroup Inc. from $75.00 to $82.00. They now have a “neutral” rating on the stock.
11/19/2024 – Bank of New York Mellon was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
11/15/2024 – Bank of New York Mellon had its price target raised by analysts at Wells Fargo & Company from $79.00 to $81.00. They now have an “equal weight” rating on the stock.
11/11/2024 – Bank of New York Mellon was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
11/11/2024 – Bank of New York Mellon had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $82.00 to $85.00. They now have a “buy” rating on the stock.
10/14/2024 – Bank of New York Mellon had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $79.00 price target on the stock.
10/14/2024 – Bank of New York Mellon had its price target raised by analysts at Barclays PLC from $75.00 to $86.00. They now have an “overweight” rating on the stock.
10/14/2024 – Bank of New York Mellon had its price target raised by analysts at Evercore ISI from $66.00 to $77.00. They now have an “in-line” rating on the stock.
10/14/2024 – Bank of New York Mellon had its price target raised by analysts at Wells Fargo & Company from $69.00 to $79.00. They now have an “equal weight” rating on the stock.
10/14/2024 – Bank of New York Mellon was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
10/8/2024 – Bank of New York Mellon had its price target raised by analysts at UBS Group AG from $73.00 to $82.00. They now have a “buy” rating on the stock.
10/7/2024 – Bank of New York Mellon had its price target raised by analysts at JPMorgan Chase & Co. from $69.00 to $77.00. They now have an “overweight” rating on the stock.

Bank of New York Mellon Stock Down 0.3 %

Shares of BK stock opened at $80.86 on Wednesday. The stock has a market cap of $58.79 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a one year low of $47.48 and a one year high of $82.72. The stock has a fifty day moving average price of $76.43 and a 200 day moving average price of $67.90. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK – Get Free Report) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.33%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its stake in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Clearstead Trust LLC acquired a new position in Bank of New York Mellon during the second quarter valued at approximately $32,000. Family Firm Inc. acquired a new position in Bank of New York Mellon during the second quarter valued at approximately $40,000. Fortitude Family Office LLC increased its position in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

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.