The Bank of New York Mellon Co. (NYSE:BK) Given Consensus Recommendation of "Moderate Buy" by Brokerages

The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine ratings firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $60.17.

A number of brokerages have commented on BK. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 18th. Jefferies Financial Group increased their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, April 18th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. UBS Group increased their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, January 9th. Finally, Bank of America increased their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th.

Bank of New York Mellon Trading Up 0.2 %

BK stock traded up $0.14 during mid-day trading on Friday, reaching $57.32. The company had a trading volume of 2,058,025 shares, compared to its average volume of 3,589,079. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The company has a market capitalization of $43.15 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The firm has a 50 day moving average of $56.01 and a 200 day moving average of $51.84. Bank of New York Mellon has a 12 month low of $39.65 and a 12 month high of $58.28.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. On average, equities analysts predict that Bank of New York Mellon will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.93%. Bank of New York Mellon's dividend payout ratio (DPR) is 40.98%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the firm's stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares of the company's stock, valued at $5,637,684.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Catherine Keating sold 4,498 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company's stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock worth $5,459,897 over the last three months. Corporate insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank's stock worth $3,877,801,000 after buying an additional 4,293,751 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Bank of New York Mellon by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank's stock valued at $1,030,254,000 after purchasing an additional 144,162 shares during the period. Norges Bank acquired a new position in Bank of New York Mellon during the fourth quarter valued at $813,701,000. Northern Trust Corp lifted its position in Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank's stock valued at $403,208,000 after purchasing an additional 715,421 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Bank of New York Mellon by 1.5% during the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank's stock valued at $373,505,000 after purchasing an additional 129,929 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

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.