The Bank of New York Mellon Corporation (NYSE:BK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of The Bank of New York Mellon Corporation (NYSE:BK) have earned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $111.8571.

A number of analysts recently issued reports on BK shares. Citigroup increased their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of New York Mellon in a research note on Monday. Finally, TD Cowen increased their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th.

Bank of New York Mellon Stock Performance

BK stock opened at $113.54 on Thursday. Bank of New York Mellon has a 1-year low of $70.46 and a 1-year high of $119.40. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $79.17 billion, a PE ratio of 16.38, a P/E/G ratio of 1.03 and a beta of 1.12. The business’s 50-day moving average price is $110.05 and its two-hundred day moving average price is $103.19.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The company had revenue of $4.38 billion during the quarter. As a group, research analysts forecast that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

Hedge Funds Weigh In On Bank of New York Mellon

Several hedge funds have recently made changes to their positions in BK. Westside Investment Management Inc. lifted its position in shares of Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Bank of New York Mellon in the 1st quarter valued at $32,000. Hoey Investments Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at $32,000. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon during the 3rd quarter worth about $33,000. Finally, GFG Capital LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $36,000. 85.31% of the stock is owned by institutional investors.

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.