The Bank of New York Mellon Given Consensus Recommendation of “Hold” by Analysts (NYSE:BK)
Shares of The Bank of New York Mellon (NYSE:BK) have earned an average rating of “Hold” from the fifteen brokerages that are presently covering the company, Analyst RN reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $38.14.
A number of analysts have recently weighed in on BK shares. 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.
Shares of The Bank of New York Mellon (NYSE:BK) opened at 39.65 on Wednesday. The Bank of New York Mellon has a 52 week low of $29.55 and a 52 week high of $40.06. The stock has a 50-day moving average of $38.88 and a 200-day moving average of $35.59. The company has a market cap of $44.868 billion and a price-to-earnings ratio of 17.21.
The Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, July 18th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. 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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