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

Shares of The Bank of New York Mellon Co. (NYSE:BK) have received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $88.00.

A number of analysts recently commented on the stock. Citigroup upped their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Morgan Stanley increased their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th.

Hedge Funds Weigh In On Bank of New York Mellon

A number of large investors have recently bought and sold shares of BK. United Advisor Group LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $595,000. Czech National Bank raised its stake in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after purchasing an additional 7,316 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp raised its stake in shares of Bank of New York Mellon by 67.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after purchasing an additional 184,560 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK opened at $86.70 on Friday. The company has a fifty day moving average price of $82.38 and a two-hundred day moving average price of $76.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. Bank of New York Mellon has a 52 week low of $52.64 and a 52 week high of $89.44. The firm has a market capitalization of $63.04 billion, a PE ratio of 14.92, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts anticipate that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.