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

The Bank of New York Mellon Co. (NYSE:BK) has earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.17.

A number of analysts have issued reports on BK shares. Bank of America raised their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Citigroup raised their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. UBS Group raised their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Evercore ISI raised their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group raised their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,568 shares of company stock worth $5,459,897. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bank of New York Mellon

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. raised its position in Bank of New York Mellon by 82.1% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after purchasing an additional 230 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $28,000. Able Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $32,000. Kathleen S. Wright Associates Inc. bought a new position in Bank of New York Mellon in the 1st quarter valued at $32,000. Finally, Hartford Financial Management Inc. raised its position in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $57.31 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The firm has a market cap of $43.15 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.25 and a beta of 1.12. The business’s 50-day simple moving average is $56.01 and its 200-day simple moving average is $51.77. Bank of New York Mellon has a 52 week low of $39.65 and a 52 week high of $58.28.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 EPS. As a group, equities research analysts expect that Bank of New York Mellon will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.93%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Bank of New York Mellon Company Profile

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.