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

The Bank of New York Mellon Corporation (NYSE:BK) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $131.9167.

Several research analysts have weighed in on BK shares. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. TD Cowen boosted their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Citigroup increased their target price on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada lifted their price target on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Finally, New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 14th.

Bank of New York Mellon Stock Down 0.7%

Shares of NYSE BK opened at $120.52 on Friday. The stock has a market cap of $84.04 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.13 and a beta of 1.10. The firm has a 50 day moving average price of $118.05 and a 200 day moving average price of $110.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. Bank of New York Mellon has a 52-week low of $70.46 and a 52-week high of $125.89.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share 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. Analysts expect that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Westside Investment Management Inc. increased its holdings in Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $27,000. Marquette Asset Management LLC increased its stake in shares of Bank of New York Mellon by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $33,000. Finally, GFG Capital LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $36,000. 85.31% of the stock is currently owned by institutional investors.

About Bank of New York Mellon

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.