Bank of New York Mellon (NYSE:BK) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Bank of New York Mellon (NYSE:BK) issued its quarterly earnings results on Wednesday. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18, RTT News reports. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%.

Bank of New York Mellon Trading Down 0.2 %

Shares of Bank of New York Mellon stock opened at $75.93 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $55.21 billion, a P/E ratio of 16.51, a PEG ratio of 0.91 and a beta of 1.08. Bank of New York Mellon has a 1 year low of $52.64 and a 1 year high of $82.72. The company’s fifty day moving average is $78.58 and its two-hundred day moving average is $71.94.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, January 2nd. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Saturday, December 14th. Finally, Barclays increased their price objective on Bank of New York Mellon from $86.00 to $102.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.64.

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.