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

The Bank of New York Mellon Corporation (NYSE:BK) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $115.4286.

Several brokerages have recently weighed in on BK. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. The Goldman Sachs Group upped their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Finally, Morgan Stanley upped their price objective on Bank of New York Mellon from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th.

Institutional Trading of Bank of New York Mellon

A number of institutional investors have recently modified their holdings of BK. Revolve Wealth Partners LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $220,000. Focus Partners Wealth raised its stake in shares of Bank of New York Mellon by 3.2% in the 1st quarter. Focus Partners Wealth now owns 34,424 shares of the bank’s stock valued at $2,887,000 after acquiring an additional 1,075 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Bank of New York Mellon by 11.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,690 shares of the bank’s stock valued at $897,000 after acquiring an additional 1,101 shares in the last quarter. Kera Capital Partners Inc. increased its holdings in Bank of New York Mellon by 25.0% in the 2nd quarter. Kera Capital Partners Inc. now owns 3,608 shares of the bank’s stock valued at $329,000 after purchasing an additional 721 shares in the last quarter. Finally, RB Capital Management LLC increased its holdings in Bank of New York Mellon by 1.6% in the 2nd quarter. RB Capital Management LLC now owns 7,990 shares of the bank’s stock valued at $728,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.8%

Shares of BK opened at $119.03 on Monday. Bank of New York Mellon has a fifty-two week low of $70.46 and a fifty-two week high of $122.36. The company has a market capitalization of $83.01 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.92 and a beta of 1.11. The stock has a fifty day moving average of $113.67 and a two-hundred day moving average of $106.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The firm had revenue of $5.07 billion during the quarter. As a group, analysts forecast that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.