Q1 2018 EPS Estimates for Bank Of New York Mellon Corporation (The) Raised by Jefferies Group (BK)

Bank Of New York Mellon Corporation (The) (NYSE:BK) – Research analysts at Jefferies Group boosted their Q1 2018 EPS estimates for shares of Bank Of New York Mellon in a research note issued on Thursday. Jefferies Group analyst K. Usdin now anticipates that the bank will post earnings per share of $0.99 for the quarter, up from their prior estimate of $0.97. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Bank Of New York Mellon’s Q2 2018 earnings at $1.03 EPS, Q3 2018 earnings at $1.11 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $4.20 EPS and FY2019 earnings at $4.51 EPS.

Bank Of New York Mellon (NYSE:BK) last released its earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.91. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Bank Of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS.

A number of other research analysts have also recently commented on BK. Barclays restated a “buy” rating on shares of Bank Of New York Mellon in a research note on Sunday. Zacks Investment Research lowered Bank Of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Citigroup raised Bank Of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, January 10th. Vining Sparks reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bank Of New York Mellon in a research report on Monday, January 8th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Bank Of New York Mellon currently has a consensus rating of “Hold” and an average target price of $56.61.

Bank Of New York Mellon (BK) opened at $56.61 on Monday. The company has a market capitalization of $57,969.88, a P/E ratio of 15.18, a PEG ratio of 1.78 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69. Bank Of New York Mellon has a one year low of $43.85 and a one year high of $58.99.

Institutional investors have recently bought and sold shares of the business. Ingalls & Snyder LLC bought a new stake in shares of Bank Of New York Mellon in the fourth quarter worth $551,000. State of Alaska Department of Revenue grew its holdings in shares of Bank Of New York Mellon by 282.8% in the fourth quarter. State of Alaska Department of Revenue now owns 110,037 shares of the bank’s stock worth $5,925,000 after acquiring an additional 81,290 shares during the period. Heritage Way Advisors LLC grew its holdings in shares of Bank Of New York Mellon by 101.9% in the fourth quarter. Heritage Way Advisors LLC now owns 83,894 shares of the bank’s stock worth $4,519,000 after acquiring an additional 42,347 shares during the period. Smithbridge Asset Management Inc. DE grew its holdings in shares of Bank Of New York Mellon by 6.0% in the fourth quarter. Smithbridge Asset Management Inc. DE now owns 69,845 shares of the bank’s stock worth $3,762,000 after acquiring an additional 3,925 shares during the period. Finally, Westpac Banking Corp grew its holdings in shares of Bank Of New York Mellon by 1.1% in the fourth quarter. Westpac Banking Corp now owns 423,150 shares of the bank’s stock worth $22,791,000 after acquiring an additional 4,773 shares during the period. 82.93% of the stock is owned by institutional investors and hedge funds.

In other Bank Of New York Mellon news, CFO Thomas P. Gibbons sold 38,152 shares of Bank Of New York Mellon stock in a transaction on Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the completion of the sale, the chief financial officer now owns 310,002 shares of the company’s stock, valued at approximately $16,786,608.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward P. Garden sold 143,792 shares of Bank Of New York Mellon stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total value of $7,551,955.84. The disclosure for this sale can be found here. In the last three months, insiders sold 6,677,177 shares of company stock valued at $350,171,492. Corporate insiders own 3.60% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, January 29th. Bank Of New York Mellon’s payout ratio is 25.74%.

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Bank Of New York Mellon Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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