The Bank of New York Mellon Co. (NYSE:BK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of The Bank of New York Mellon Co. (NYSE:BK) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $89.50.

A number of research analysts have commented on BK shares. Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. UBS Group upped their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI upped their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th.

Institutional Investors Weigh In On Bank of New York Mellon

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $28,000. REAP Financial Group LLC increased its stake in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after acquiring an additional 218 shares during the last quarter. Transce3nd LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $33,000. Finally, South Plains Financial Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $34,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.9 %

Shares of BK opened at $82.47 on Tuesday. Bank of New York Mellon has a 52-week low of $52.64 and a 52-week high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average is $84.39 and its two-hundred day moving average is $78.66. The stock has a market cap of $59.21 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted its quarterly 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 for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. Research analysts forecast that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.28%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

About Bank of New York Mellon

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.