The Bank of New York Mellon Corporation (NYSE:BK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of The Bank of New York Mellon Corporation (NYSE:BK) have earned an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $111.2857.

Several equities research analysts have recently commented on the stock. Citigroup raised their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of New York Mellon in a research report on Wednesday. Truist Financial upped their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Finally, Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th.

Institutional Trading of Bank of New York Mellon

A number of institutional investors and hedge funds have recently modified their holdings of BK. CIBC Bancorp USA Inc. bought a new stake in Bank of New York Mellon in the 3rd quarter worth about $10,641,000. Centaurus Financial Inc. lifted its stake in Bank of New York Mellon by 15.8% during the 3rd quarter. Centaurus Financial Inc. now owns 7,794 shares of the bank’s stock valued at $849,000 after acquiring an additional 1,065 shares during the period. Caerus Investment Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $242,000. Sunbelt Securities Inc. boosted its holdings in shares of Bank of New York Mellon by 15.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 8,632 shares of the bank’s stock valued at $941,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Bank of New York Mellon by 0.6% in the third quarter. Captrust Financial Advisors now owns 811,350 shares of the bank’s stock worth $88,405,000 after acquiring an additional 4,973 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $106.54 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. Bank of New York Mellon has a fifty-two week low of $70.46 and a fifty-two week high of $113.74. The firm has a market cap of $74.30 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.98 and a beta of 1.13. The business’s 50 day moving average price is $107.91 and its 200-day moving average price is $100.01.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The company had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, equities research analysts anticipate that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

About Bank of New York Mellon

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.