Morningstar Assigns “A” Credit Rating to The Bank of New York Mellon (BK)
The Bank of New York Mellon (NYSE:BK) has earned an “A” credit rating from Morningstar. The credit rating agency’s “A” rating indicates that the company is a low default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on BK. Analysts at Zacks reiterated a “neutral” rating on shares of The Bank of New York Mellon in a research note on Monday. They now have a $41.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Bank of New York Mellon in a research note on Friday, July 25th. They now have a $36.00 price target on the stock, up previously from $35.00. Finally, analysts at Argus raised their price target on shares of The Bank of New York Mellon from $40.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.14.
The Bank of New York Mellon (NYSE:BK) opened at 39.65 on Wednesday. The Bank of New York Mellon has a one year low of $29.55 and a one year high of $40.06. The stock’s 50-day moving average is $38.88 and its 200-day moving average is $35.59. The company has a market cap of $44.868 billion and a price-to-earnings ratio of 17.01.
The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 18th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.05. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the company posted $0.62 earnings per share. The Bank of New York Mellon’s revenue was down 7.0% compared to the same quarter last year. Analysts expect that The Bank of New York Mellon will post $2.39 EPS for the current fiscal year.
The Bank of New York Mellon Corporation (NYSE:BK) is a global financial services company.
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