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

Shares of The Bank of New York Mellon Corporation (NYSE:BK) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $131.9167.

BK has been the subject of several research analyst reports. Citigroup lifted their target price on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. TD Cowen boosted their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research report on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th.

Institutional Trading of Bank of New York Mellon

A number of institutional investors have recently bought and sold shares of the business. Ransom Advisory Ltd boosted its holdings in shares of Bank of New York Mellon by 1.3% in the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after purchasing an additional 85 shares in the last quarter. Mather Group LLC. lifted its position in shares of Bank of New York Mellon by 0.9% during the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after buying an additional 86 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after buying an additional 94 shares in the last quarter. Vectors Research Management LLC grew its position in Bank of New York Mellon by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after acquiring an additional 94 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its stake in Bank of New York Mellon by 0.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.7%

BK stock opened at $120.52 on Friday. Bank of New York Mellon has a 1-year low of $70.46 and a 1-year high of $125.89. The business’s 50 day simple moving average is $118.05 and its 200 day simple moving average is $110.04. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $84.04 billion, a PE ratio of 16.26, a PEG ratio of 1.13 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion during the quarter. As a group, research analysts anticipate that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is 28.61%.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.