Bank of New York Mellon (NYSE:BK) Research Coverage Started at StockNews.com

Posted by Defense World Staff on May 18th, 2023

Analysts at StockNews.com initiated coverage on shares of Bank of New York Mellon (NYSE:BK – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the bank’s stock.

Several other brokerages have also weighed in on BK. Evercore ISI decreased their target price on shares of Bank of New York Mellon from $49.00 to $46.00 in a research report on Friday, May 12th. Wells Fargo & Company decreased their target price on shares of Bank of New York Mellon from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. Royal Bank of Canada lifted their target price on shares of Bank of New York Mellon from $44.00 to $49.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 19th. Barclays decreased their target price on shares of Bank of New York Mellon from $64.00 to $62.00 in a research report on Wednesday, April 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Bank of New York Mellon from $42.00 to $41.00 in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Hold” and an average price target of $51.61.

Bank of New York Mellon Trading Up 2.5 %

Shares of NYSE:BK opened at $40.66 on Thursday. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.06 and a beta of 1.07. Bank of New York Mellon has a 1-year low of $36.22 and a 1-year high of $52.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day moving average price of $43.58 and a 200 day moving average price of $45.91.

Bank of New York Mellon (NYSE:BK – Get Rating) last released its earnings results on Tuesday, April 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.40 billion. Bank of New York Mellon had a net margin of 11.98% and a return on equity of 11.45%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, research analysts anticipate that Bank of New York Mellon will post 4.74 EPS for the current fiscal year.

Institutional Trading of Bank of New York Mellon

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. boosted its position in Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after buying an additional 300 shares during the period. Exos TFP Holdings LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $32,000. MV Capital Management Inc. boosted its position in Bank of New York Mellon by 38.3% in the 4th quarter. MV Capital Management Inc. now owns 747 shares of the bank’s stock valued at $34,000 after buying an additional 207 shares during the period. EverSource Wealth Advisors LLC boosted its position in Bank of New York Mellon by 238.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the bank’s stock valued at $36,000 after buying an additional 668 shares during the period. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $36,000. 82.29% of the stock is currently owned by institutional investors.

About Bank of New York Mellon

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.