The Bank of New York Mellon (NYSE:BK) released its earnings results on Friday. The bank reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.10, RTT News reports. The Bank of New York Mellon had a return on equity of 9.89% and a net margin of 23.09%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company earned $1.05 earnings per share. The Bank of New York Mellon's quarterly revenue was down 4.6% compared to the same quarter last year.
BK opened at $48.01 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $42.10 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.38 and a beta of 1.07. The business has a 50-day moving average of $46.26 and a two-hundred day moving average of $41.52. The Bank of New York Mellon has a 12 month low of $31.24 and a 12 month high of $49.13.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 11th. Shareholders of record on Wednesday, April 28th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.58%. The Bank of New York Mellon's dividend payout ratio (DPR) is 30.85%.
A number of equities research analysts have commented on the company. Smith Barney Citigroup raised The Bank of New York Mellon from a "neutral" rating to a "buy" rating and raised their target price for the company from $44.00 to $57.00 in a report on Monday, January 11th. Morgan Stanley cut their price target on The Bank of New York Mellon from $51.00 to $50.00 and set an "equal weight" rating for the company in a research note on Thursday, January 21st. Barclays lifted their price target on The Bank of New York Mellon from $55.00 to $57.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 7th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised The Bank of New York Mellon from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $57.00 in a research note on Monday, January 11th. Finally, Bank of America raised The Bank of New York Mellon from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $43.00 to $50.00 in a research note on Tuesday, March 30th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of "Buy" and an average target price of $49.40.
About The Bank of New York Mellon
The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the Investment Services and Investment Management segments. The Investment Services segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange.
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