What is Zacks Research’s Forecast for BK FY2024 Earnings?

The Bank of New York Mellon Co. (NYSE:BK) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Bank of New York Mellon in a report issued on Monday, January 6th. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $5.81 per share for the year, up from their previous estimate of $5.78. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $5.84 per share. Zacks Research also issued estimates for Bank of New York Mellon’s Q4 2024 earnings at $1.48 EPS, Q1 2025 earnings at $1.40 EPS, Q2 2025 earnings at $1.65 EPS, Q3 2025 earnings at $1.59 EPS, FY2025 earnings at $6.31 EPS, Q1 2026 earnings at $1.64 EPS, Q2 2026 earnings at $1.81 EPS, Q3 2026 earnings at $1.78 EPS, Q4 2026 earnings at $1.93 EPS and FY2026 earnings at $7.17 EPS.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. Morgan Stanley decreased their target price on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Bank of New York Mellon Trading Down 0.1 %

Shares of Bank of New York Mellon stock opened at $77.88 on Wednesday. The stock has a market cap of $56.62 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. Bank of New York Mellon has a 12-month low of $52.21 and a 12-month high of $82.72. The business’s 50 day moving average is $78.50 and its 200-day moving average is $71.37.

Institutional Investors Weigh In On Bank of New York Mellon

Several large investors have recently made changes to their positions in the business. Bangor Savings Bank bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $233,000. Neville Rodie & Shaw Inc. increased its position in Bank of New York Mellon by 82.1% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 49,935 shares of the bank’s stock worth $3,837,000 after buying an additional 22,506 shares during the last quarter. CWA Asset Management Group LLC raised its stake in shares of Bank of New York Mellon by 37.4% in the fourth quarter. CWA Asset Management Group LLC now owns 39,011 shares of the bank’s stock valued at $2,997,000 after buying an additional 10,620 shares during the period. Nordea Investment Management AB lifted its position in shares of Bank of New York Mellon by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 62,213 shares of the bank’s stock valued at $4,790,000 after buying an additional 3,247 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth about $49,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 yield of 2.41%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

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.