Zacks Research Has Optimistic Outlook of BK FY2027 Earnings

The Bank of New York Mellon Co. (NYSE:BK) – Zacks Research upped their FY2027 earnings per share estimates for shares of Bank of New York Mellon in a research note issued to investors on Tuesday, March 11th. Zacks Research analyst R. Department now expects that the bank will earn $8.74 per share for the year, up from their prior estimate of $8.73. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $6.96 per share.

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, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year.

A number of other equities analysts have also recently commented on BK. Truist Financial increased their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Evercore ISI increased their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Barclays increased their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Bank of America increased their price target 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 investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $88.71.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $81.87 on Friday. The business has a 50 day simple moving average of $84.30 and a two-hundred day simple moving average of $78.40. Bank of New York Mellon has a 12 month low of $52.64 and a 12 month high of $90.34. The stock has a market capitalization of $58.78 billion, a P/E ratio of 14.09, a PEG ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Czech National Bank boosted its holdings in Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares during the period. HighTower Advisors LLC boosted its holdings in Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares during the period. Primecap Management Co. CA boosted its holdings in Bank of New York Mellon by 1.2% in the third quarter. Primecap Management Co. CA now owns 719,900 shares of the bank’s stock valued at $51,732,000 after purchasing an additional 8,400 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in Bank of New York Mellon in the third quarter valued at $1,010,000. Finally, Fifth Third Bancorp boosted its holdings in Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after purchasing an additional 7,935 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.