The Bank of New York Mellon Co. (NYSE:BK) Given Average Recommendation of “Hold” by Brokerages

Shares of The Bank of New York Mellon Co. (NYSE:BKGet Free Report) have been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $52.40.

A number of analysts recently weighed in on BK shares. Bank of America reduced their price objective on shares of Bank of New York Mellon from $55.00 to $53.00 in a research report on Tuesday, October 10th. Evercore ISI dropped their target price on shares of Bank of New York Mellon from $47.00 to $45.00 in a research note on Thursday, October 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bank of New York Mellon from $45.00 to $44.00 and set a “hold” rating on the stock in a research note on Wednesday, October 11th. Morgan Stanley dropped their target price on shares of Bank of New York Mellon from $48.00 to $46.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 3rd. Finally, StockNews.com assumed coverage on shares of Bank of New York Mellon in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.

Check Out Our Latest Research Report on BK

Institutional Investors Weigh In On Bank of New York Mellon

Several institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth $503,489,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Bank of New York Mellon by 98,557.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,841,417 shares of the bank’s stock worth $482,660,000 after purchasing an additional 10,830,428 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Bank of New York Mellon by 74,433.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after purchasing an additional 6,106,537 shares during the last quarter. FMR LLC increased its holdings in Bank of New York Mellon by 32.0% in the first quarter. FMR LLC now owns 18,006,796 shares of the bank’s stock valued at $818,229,000 after buying an additional 4,365,044 shares in the last quarter. Finally, Parnassus Investments LLC increased its holdings in Bank of New York Mellon by 120.3% in the first quarter. Parnassus Investments LLC now owns 5,385,368 shares of the bank’s stock valued at $244,711,000 after buying an additional 2,941,223 shares in the last quarter. 81.29% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $45.25 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.72. Bank of New York Mellon has a 1-year low of $39.65 and a 1-year high of $52.26. The firm has a market capitalization of $35.24 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. The company’s 50-day moving average is $43.21 and its 200 day moving average is $43.37.

Bank of New York Mellon (NYSE:BKGet Free Report) last posted its quarterly earnings data on Tuesday, October 17th. The bank reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.12. Bank of New York Mellon had a net margin of 11.81% and a return on equity of 11.84%. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts forecast that Bank of New York Mellon will post 4.88 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 26th. This represents a $1.68 annualized dividend and a yield of 3.71%. Bank of New York Mellon’s dividend payout ratio (DPR) is 39.44%.

Bank of New York Mellon Company Profile

(Get Free Report

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.

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Analyst Recommendations for Bank of New York Mellon (NYSE:BK)

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