Bank of New York Mellon (NYSE:BK) Given New $87.00 Price Target at Evercore ISI

Bank of New York Mellon (NYSE:BK) had its target price hoisted by Evercore ISI from $83.00 to $87.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an in-line rating on the bank’s stock.

BK has been the topic of a number of other reports. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Truist Financial raised their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Barclays lifted their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Six investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $90.00.

Bank of New York Mellon Trading Down 0.2 %

Shares of NYSE:BK opened at $83.74 on Tuesday. The stock has a market cap of $60.12 billion, a PE ratio of 14.41, a P/E/G ratio of 0.97 and a beta of 1.06. 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 has a 12-month low of $52.64 and a 12-month high of $90.34. The business has a 50 day moving average of $85.33 and a 200-day moving average of $79.90.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $1.28 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders 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 2.24%. Bank of New York Mellon’s payout ratio is currently 32.36%.

Institutional Trading of Bank of New York Mellon

A number of hedge funds and other institutional investors have recently modified their holdings of BK. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $28,000. REAP Financial Group LLC boosted its stake in shares of 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 valued at $30,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $33,000. Finally, South Plains Financial Inc. acquired a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $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.