The Bank of New York Mellon Co. (NYSE:BK) Given Average Rating of “Moderate Buy” by Brokerages

The Bank of New York Mellon Co. (NYSE:BK) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $88.00.

BK has been the subject of several analyst reports. Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Bank of America raised their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st.

Bank of New York Mellon Trading Up 0.7 %

NYSE:BK opened at $86.97 on Friday. The company has a market cap of $63.23 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. Bank of New York Mellon has a twelve month low of $52.64 and a twelve month high of $89.44. The business has a 50 day moving average price of $82.80 and a two-hundred day moving average price of $76.93. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 earnings per share. As a group, analysts expect that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Hedge Funds Weigh In On Bank of New York Mellon

A number of large investors have recently made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $28,000. REAP Financial Group LLC grew its stake in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after acquiring an additional 218 shares in the last quarter. Transce3nd LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $33,000. Finally, South Plains Financial Inc. acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $34,000. Institutional investors own 85.31% of the company’s stock.

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.