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

Key Points

• Bank of New York Mellon currently has a consensus analyst rating of “Moderate Buy” from 13 covering firms, with an average 1-year price target of about $138.08.
• The company’s latest quarterly results beat expectations, posting $2.25 EPS versus the $1.94 estimate and $5.41 billion in revenue versus the expected $5.14 billion, while revenue rose 12.9% year over year.
• BNY also paid a quarterly dividend of $0.53 per share and currently offers an annualized yield of about 1.5%; insiders have recently sold shares, while institutional investors continue to hold a large majority of the stock.

Shares of Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $138.0769.

BNY has been the subject of a number of analyst reports. Truist Financial upped their price target on Bank of New York Mellon from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Weiss Ratings upgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday, May 4th. Wall Street Zen upgraded Bank of New York Mellon to a "hold" rating in a research report on Saturday, May 23rd. Morgan Stanley increased their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Friday, April 17th. Finally, Citigroup assumed coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They set a "neutral" rating for the company.

Insiders Place Their Bets

In related news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the sale, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the sale, the insider owned 17,259 shares of the company's stock, valued at $2,347,569.18. This represents a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,091 shares of company stock worth $6,568,423. Company insiders own 0.17% of the company's stock.

Institutional Trading of Bank of New York Mellon

Institutional investors have recently made changes to their positions in the business. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $220,000. Sivia Capital Partners LLC boosted its stake in Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock valued at $309,000 after buying an additional 909 shares during the last quarter. Jump Financial LLC bought a new position in Bank of New York Mellon during the second quarter valued at approximately $2,482,000. Treasurer of the State of North Carolina boosted its stake in Bank of New York Mellon by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock valued at $30,466,000 after buying an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its stake in Bank of New York Mellon by 11,890.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock valued at $109,000 after buying an additional 1,189 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $139.89 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The business has a 50-day simple moving average of $134.27 and a two-hundred day simple moving average of $123.41. The stock has a market cap of $96.02 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.05 and a beta of 1.07. Bank of New York Mellon has a 52 week low of $87.41 and a 52 week high of $144.98.

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

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 26.27%.

About Bank of New York Mellon

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.

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