Bank of New York Mellon Corporation (NYSE:BNY) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate BNY a “Moderate Buy”: Of 17 analysts, 10 recommend buying, two strongly recommend buying, and five rate the stock as a hold. The average 12-month price target is $156.47.
• Recent earnings exceeded expectations: BNY reported quarterly EPS of $2.46 versus the $2.16 consensus estimate, while revenue rose 13.3% year over year to $5.70 billion.
• Shares remain near their yearly high: BNY opened at $156.17, compared with a 52-week range of $98.40 to $163.77, and institutional investors own approximately 85.3% of the outstanding stock.

Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $156.4667.

BNY has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $140.00 to $149.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Royal Bank Of Canada raised their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research note on Monday, May 4th. Finally, Bank of America boosted their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a report on Monday, July 20th.

Bank of New York Mellon Trading Up 2.4%

Bank of New York Mellon stock opened at $156.17 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 0.72. The stock has a market cap of $107.19 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.08 and a beta of 1.07. The stock has a 50-day moving average of $147.92 and a two-hundred day moving average of $132.31. Bank of New York Mellon has a one year low of $98.40 and a one year high of $163.77.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The company's revenue was up 13.3% on a year-over-year basis. On average, research analysts anticipate that Bank of New York Mellon will post 9.24 EPS for the current fiscal year.

Institutional Trading of Bank of New York Mellon

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in shares of Bank of New York Mellon by 53.8% in the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank's stock worth $21,129,000 after acquiring an additional 63,627 shares during the period. Todd Asset Management LLC raised its holdings in shares of Bank of New York Mellon by 37.5% during the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank's stock worth $43,069,000 after purchasing an additional 101,142 shares during the last quarter. Prospera Financial Services Inc lifted its position in Bank of New York Mellon by 106.5% during the fourth quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank's stock valued at $2,220,000 after purchasing an additional 9,865 shares during the period. Knights of Columbus Asset Advisors LLC lifted its position in Bank of New York Mellon by 26.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 124,015 shares of the bank's stock valued at $14,397,000 after purchasing an additional 25,642 shares during the period. Finally, Axxcess Wealth Management LLC boosted its holdings in Bank of New York Mellon by 282.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 92,414 shares of the bank's stock valued at $10,728,000 after purchasing an additional 68,262 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

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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