Bank of New York Mellon (NYSE:BK) Now Covered by Analysts at Citigroup

Citigroup began coverage on shares of Bank of New York Mellon (NYSE:BK) in a report issued on Monday. The brokerage issued a neutral rating on the bank’s stock.

Other equities analysts have also issued reports about the company. Weiss Ratings lowered Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. TD Cowen increased their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Morgan Stanley raised their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Finally, Barclays increased their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Price Performance

Shares of BK opened at $115.42 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The firm has a market cap of $80.49 billion, a PE ratio of 15.58, a PEG ratio of 1.10 and a beta of 1.10. The firm’s 50 day moving average price is $119.30 and its 200 day moving average price is $111.81. Bank of New York Mellon has a twelve month low of $70.46 and a twelve month high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. As a group, research analysts expect that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Hedge Funds Weigh In On Bank of New York Mellon

Large investors have recently bought and sold shares of the stock. Phillip James Consulting Co. acquired a new stake in Bank of New York Mellon in the 4th quarter worth $60,000. Kera Capital Partners Inc. lifted its stake in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Kera Capital Partners Inc. now owns 4,576 shares of the bank’s stock valued at $549,000 after buying an additional 511 shares during the period. MV Capital Management Inc. acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $250,000. Dean Capital Management increased its stake in Bank of New York Mellon by 3.2% during the fourth quarter. Dean Capital Management now owns 32,240 shares of the bank’s stock valued at $3,743,000 after acquiring an additional 1,000 shares during the period. Finally, WealthPoint Financial LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at about $212,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

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.