Bank of New York Mellon (BK) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Bank of New York Mellon (NYSE: BK) recently:

  • 4/27/2022 – Bank of New York Mellon was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $51.50 price target on the stock, down previously from $59.00.
  • 4/19/2022 – Bank of New York Mellon had its price target lowered by analysts at Royal Bank of Canada from $60.00 to $56.00. They now have a “sector perform” rating on the stock.
  • 4/19/2022 – Bank of New York Mellon had its price target lowered by analysts at Barclays PLC from $74.00 to $68.00. They now have an “overweight” rating on the stock.
  • 4/19/2022 – Bank of New York Mellon had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $60.00 to $51.50. They now have a “neutral” rating on the stock.
  • 4/19/2022 – Bank of New York Mellon had its price target lowered by analysts at Morgan Stanley from $58.00 to $55.00. They now have an “equal weight” rating on the stock.
  • 4/19/2022 – Bank of New York Mellon had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $54.00. They now have a “buy” rating on the stock.
  • 4/11/2022 – Bank of New York Mellon was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $50.00 price target on the stock, down previously from $70.00.
  • 4/7/2022 – Bank of New York Mellon had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $74.00 to $62.00.
  • 3/31/2022 – Bank of New York Mellon was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating. They now have a $55.00 price target on the stock.
  • 3/31/2022 – Bank of New York Mellon is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/30/2022 – Bank of New York Mellon was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $60.00 price target on the stock, down previously from $68.00.
  • 3/28/2022 – Bank of New York Mellon was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $58.00 price target on the stock, down previously from $65.00.
  • 3/22/2022 – Bank of New York Mellon had its price target lowered by analysts at Wells Fargo & Company from $70.00 to $63.00. They now have an “equal weight” rating on the stock.
  • 3/21/2022 – Bank of New York Mellon had its price target lowered by analysts at Credit Suisse Group AG from $66.00 to $63.00. They now have an “outperform” rating on the stock.

Shares of Bank of New York Mellon stock traded down $0.36 during trading on Tuesday, hitting $42.85. 466,523 shares of the stock were exchanged, compared to its average volume of 5,758,952. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a fifty day moving average price of $48.49 and a 200-day moving average price of $55.17. The Bank of New York Mellon Co. has a 1-year low of $41.76 and a 1-year high of $64.63. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 0.69.

Bank of New York Mellon (NYSE:BKGet Rating) last released its quarterly earnings data on Monday, April 18th. The bank reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.01. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.94 billion. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 9.33%. Bank of New York Mellon’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. Equities research analysts forecast that The Bank of New York Mellon Co. will post 4.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 11th. Investors of record on Thursday, April 28th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, April 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.17%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 33.66%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $555,083,000. Millennium Management LLC grew its position in shares of Bank of New York Mellon by 1,368.8% during the 4th quarter. Millennium Management LLC now owns 1,668,416 shares of the bank’s stock worth $96,902,000 after purchasing an additional 1,554,823 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Bank of New York Mellon by 201.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,820,978 shares of the bank’s stock worth $94,399,000 after purchasing an additional 1,217,578 shares in the last quarter. BlackRock Inc. lifted its stake in 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 valued at $3,021,932,000 after purchasing an additional 957,284 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Bank of New York Mellon in the 1st quarter valued at approximately $40,504,000. Institutional investors and hedge funds own 83.69% of the company’s stock.

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.

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