Bank of New York Mellon Corp. Hits New 52-Week High at $32.47 (BK)
Bank of New York Mellon Corp. (NYSE:BK) set a new 52-week high during trading on Friday, ARN reports. The stock traded as high as $32.47 and last traded at $32.44, with a volume of 5,521,070 shares. The stock had previously closed at $31.80.
A number of analysts have recently weighed in on BK shares. Analysts at ISI Group initiated coverage on shares of Bank of New York Mellon Corp. in a research note to investors on Tuesday, October 8th. They set a “neutral” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of Bank of New York Mellon Corp. from $35.00 to $34.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Finally, analysts at Sandler O’Neill raised their price target on shares of Bank of New York Mellon Corp. from $30.00 to $32.00 in a research note to investors on Wednesday, October 2nd. They now have a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Bank of New York Mellon Corp. has an average rating of “Hold” and a consensus price target of $31.32.
In other Bank of New York Mellon Corp. news, Chairman Curtis Arledge sold 115,880 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $31.42, for a total value of $3,640,949.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Bank of New York Mellon Corp. has a 1-year low of $22.27 and a 1-year high of $32.36. The stock has a 50-day moving average of $30.96 and a 200-day moving average of $30.04. The company has a market cap of $37.189 billion and a P/E ratio of 17.46.
Bank of New York Mellon Corp. (NYSE:BK) last released its earnings data on Wednesday, October 16th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.02. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon Corp. will post $2.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 5th. Shareholders of record on Monday, October 28th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, October 24th.
The Bank of New York Mellon Corporation (NYSE:BK) is a global financial services company.
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