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

Shares of The Bank of New York Mellon Co. (NYSE:BK) have received an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $91.31.

BK has been the subject of a number of research reports. UBS Group raised their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Bank of America increased their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $76.25 on Friday. Bank of New York Mellon has a 12 month low of $55.42 and a 12 month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market cap of $54.75 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03. The business’s 50 day moving average is $82.72 and its two-hundred day moving average is $80.29.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. 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 $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect 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 announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. Bank of New York Mellon’s payout ratio is currently 30.62%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Institutional Trading of Bank of New York Mellon

Hedge funds have recently modified their holdings of the company. Capital Analysts LLC boosted its position in Bank of New York Mellon by 3.7% during the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank’s stock valued at $255,000 after acquiring an additional 119 shares in the last quarter. Cape Investment Advisory Inc. lifted its stake in shares of Bank of New York Mellon by 12.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after purchasing an additional 131 shares during the period. Syon Capital LLC boosted its position in shares of Bank of New York Mellon by 2.5% during the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock valued at $417,000 after purchasing an additional 132 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after purchasing an additional 133 shares during the period. Finally, Grove Bank & Trust lifted its position in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after buying an additional 135 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

About Bank of New York Mellon

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.