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

Bank of New York Mellon Corporation (NYSE:BNY) has earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $138.0769.

BNY has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Evercore set a $136.00 price objective on Bank of New York Mellon in a research note on Friday, April 17th. Morgan Stanley raised their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Truist Financial raised their price objective on Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $139.89 on Thursday. The stock has a 50 day moving average of $134.27 and a 200 day moving average of $123.41. Bank of New York Mellon has a 12 month low of $87.41 and a 12 month high of $144.98. The firm has a market cap of $96.02 billion, a PE ratio of 17.33, a PEG ratio of 1.05 and a beta of 1.07. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, research analysts expect that Bank of New York Mellon will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling

In other news, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the sale, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the sale, the insider directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,091 shares of company stock valued at $6,568,423 over the last quarter. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently modified their holdings of BNY. Abound Financial LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Bank of New York Mellon during the 4th quarter valued at $27,000. MCF Advisors LLC raised its position in Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares in the last quarter. Marquette Asset Management LLC raised its position in Bank of New York Mellon by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Heritage Wealth Advisors bought a new stake in Bank of New York Mellon during the 4th quarter valued at $31,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Company Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.