The Bank of New York Mellon Co. (NYSE:BK) Forecasted to Earn Q2 2022 Earnings of $1.13 Per Share

The Bank of New York Mellon Co. (NYSE:BKGet Rating) – Jefferies Financial Group decreased their Q2 2022 earnings estimates for shares of Bank of New York Mellon in a research note issued to investors on Monday, April 18th. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will post earnings of $1.13 per share for the quarter, down from their prior forecast of $1.20. Jefferies Financial Group also issued estimates for Bank of New York Mellon’s Q3 2022 earnings at $1.21 EPS, FY2022 earnings at $4.56 EPS, Q1 2023 earnings at $1.29 EPS, Q2 2023 earnings at $1.42 EPS, Q3 2023 earnings at $1.38 EPS and FY2023 earnings at $5.50 EPS.

BK has been the topic of several other reports. Zacks Investment Research raised Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Monday, January 10th. Barclays dropped their target price on Bank of New York Mellon from $74.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley dropped their target price on Bank of New York Mellon from $58.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Royal Bank of Canada dropped their target price on Bank of New York Mellon from $60.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating and set a $55.00 target price on the stock. in a research report on Thursday, March 31st. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.77.

Shares of NYSE BK opened at $47.02 on Thursday. Bank of New York Mellon has a 12 month low of $44.99 and a 12 month high of $64.63. The company has a market cap of $37.95 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $51.91 and a 200-day simple moving average of $56.34.

Bank of New York Mellon (NYSE:BKGet Rating) last announced its earnings results on Monday, April 18th. The bank reported $0.86 EPS for the quarter, beating the consensus estimate of $0.85 by $0.01. Bank of New York Mellon had a return on equity of 9.51% and a net margin of 23.26%. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Bank of New York Mellon’s revenue was up .1% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 11th. Investors of record on Thursday, April 28th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 27th. This represents a $1.36 annualized dividend and a yield of 2.89%. Bank of New York Mellon’s payout ratio is 32.77%.

A number of large investors have recently made changes to their positions in BK. Norges Bank bought a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $555,083,000. Millennium Management LLC lifted its position in shares of Bank of New York Mellon by 1,368.8% in the 4th quarter. Millennium Management LLC now owns 1,668,416 shares of the bank’s stock worth $96,902,000 after acquiring an additional 1,554,823 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Bank of New York Mellon by 201.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,820,978 shares of the bank’s stock worth $94,399,000 after acquiring an additional 1,217,578 shares during the period. Marathon Asset Mgmt Ltd bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $58,226,000. Finally, BlackRock Inc. lifted its position in shares of Bank of New York Mellon by 1.7% in the 3rd quarter. BlackRock Inc. now owns 58,293,459 shares of the bank’s stock worth $3,021,932,000 after acquiring an additional 957,284 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Bank of New York Mellon Company Profile (Get Rating)

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, prime brokerage, and data analytics.

See Also

Earnings History and Estimates for Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.