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

The Bank of New York Mellon Co. (NYSE:BK) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $88.00.

A number of brokerages have weighed in on BK. Evercore ISI boosted their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup raised their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Barclays lifted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Bank of America increased their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th.

Bank of New York Mellon Trading Down 1.3 %

Shares of Bank of New York Mellon stock opened at $87.20 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $81.87 and a 200-day simple moving average of $76.08. The stock has a market cap of $63.40 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.01 and a beta of 1.08. Bank of New York Mellon has a 12-month low of $52.64 and a 12-month high of $89.44.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. On average, equities analysts forecast that Bank of New York Mellon will post 6.93 EPS 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 2.16%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Parvin Asset Management LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth about $28,000. Transce3nd LLC purchased a new position in Bank of New York Mellon in the fourth quarter valued at about $33,000. South Plains Financial Inc. acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.