The Bank of New York Mellon Co. (NYSE:BK) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) have earned an average rating of "Moderate Buy" from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $92.08.

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Citigroup boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president now directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,114 shares of company stock valued at $7,869,795. Corporate insiders own 0.14% of the company's stock.

Institutional Trading of Bank of New York Mellon

Institutional investors and hedge funds have recently bought and sold shares of the company. Parvin Asset Management LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Bank of New York Mellon in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new stake in Bank of New York Mellon in the 1st quarter worth approximately $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $28,000. Finally, REAP Financial Group LLC lifted its stake in Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after purchasing an additional 218 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded up $0.32 on Friday, reaching $88.93. 2,449,386 shares of the company's stock were exchanged, compared to its average volume of 4,294,961. The company has a fifty day moving average of $82.36 and a 200-day moving average of $82.27. Bank of New York Mellon has a twelve month low of $57.18 and a twelve month high of $90.63. The company has a market capitalization of $63.62 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.97 and a beta of 1.05. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. On average, research analysts predict that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Bank of New York Mellon Company Profile

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.