The Bank of New York Mellon Co. (NYSE:BK) Receives Average Recommendation of “Hold” from Analysts

The Bank of New York Mellon Co. (NYSE:BKGet Rating) has been assigned an average rating of “Hold” from the fifteen analysts that are presently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $57.21.

BK has been the topic of several recent analyst reports. StockNews.com initiated coverage on Bank of New York Mellon in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating and set a $55.00 target price on the stock. in a research report on Thursday, March 31st. The Goldman Sachs Group cut their target price on Bank of New York Mellon from $60.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 19th. Credit Suisse Group cut their target price on Bank of New York Mellon from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 21st. Finally, Wells Fargo & Company cut their target price on Bank of New York Mellon from $70.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 22nd.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Walleye Capital LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter worth about $1,157,000. Verity Asset Management Inc. lifted its position in shares of Bank of New York Mellon by 32.1% in the first quarter. Verity Asset Management Inc. now owns 7,205 shares of the bank’s stock worth $358,000 after buying an additional 1,750 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Bank of New York Mellon by 0.6% in the first quarter. Neuberger Berman Group LLC now owns 45,900 shares of the bank’s stock worth $2,278,000 after buying an additional 288 shares during the last quarter. Toroso Investments LLC lifted its position in shares of Bank of New York Mellon by 9.6% in the first quarter. Toroso Investments LLC now owns 9,206 shares of the bank’s stock worth $457,000 after buying an additional 808 shares during the last quarter. Finally, Stack Financial Management Inc lifted its position in shares of Bank of New York Mellon by 0.6% in the first quarter. Stack Financial Management Inc now owns 632,488 shares of the bank’s stock worth $31,390,000 after buying an additional 4,054 shares during the last quarter. Hedge funds and other institutional investors own 83.69% of the company’s stock.

Shares of BK opened at $46.48 on Friday. The firm has a market cap of $37.55 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.61 and a beta of 1.15. The stock has a 50 day moving average of $46.44 and a 200-day moving average of $53.74. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. Bank of New York Mellon has a 52 week low of $41.76 and a 52 week high of $64.63.

Bank of New York Mellon (NYSE:BKGet Rating) last issued its earnings results on Monday, April 18th. The bank reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. Bank of New York Mellon had a return on equity of 9.33% and a net margin of 22.31%. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the firm earned $0.97 EPS. The business’s revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that Bank of New York Mellon will post 4.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 11th. Shareholders of record on Thursday, April 28th were paid a $0.34 dividend. The ex-dividend date was Wednesday, April 27th. This represents a $1.36 dividend on an annualized basis and a yield of 2.93%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 33.66%.

About Bank of New York Mellon (Get Rating)

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, prime brokerage, and data analytics.

Further Reading

Analyst Recommendations for Bank of New York Mellon (NYSE:BK)

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