Q4 2024 Earnings Estimate for The Bank of New York Mellon Co. (NYSE:BK) Issued By Zacks Research

The Bank of New York Mellon Co. (NYSE:BK) – Zacks Research upped their Q4 2024 earnings estimates for Bank of New York Mellon in a report released on Tuesday, August 27th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $1.41 for the quarter, up from their prior estimate of $1.40. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $5.60 per share. Zacks Research also issued estimates for Bank of New York Mellon’s FY2025 earnings at $5.97 EPS and FY2026 earnings at $6.86 EPS.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the business earned $1.38 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year.

BK has been the topic of several other reports. Evercore ISI increased their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Barclays boosted their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley increased their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.14.

Bank of New York Mellon Stock Up 0.4 %

Bank of New York Mellon stock opened at $67.25 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. Bank of New York Mellon has a 52 week low of $39.66 and a 52 week high of $67.74. The business’s 50-day moving average price is $63.00 and its 200 day moving average price is $59.07. The firm has a market cap of $50.29 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $7,754,000. Gilbert & Cook Inc. raised its holdings in Bank of New York Mellon by 4.7% in the fourth quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock valued at $487,000 after acquiring an additional 419 shares in the last quarter. Choreo LLC lifted its stake in Bank of New York Mellon by 1.8% in the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after acquiring an additional 208 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in Bank of New York Mellon by 3.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,059 shares of the bank’s stock worth $419,000 after acquiring an additional 241 shares in the last quarter. Finally, Certuity LLC increased its position in shares of Bank of New York Mellon by 2.3% in the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after purchasing an additional 205 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s payout ratio is 43.52%.

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.