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

Shares of The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $91.31.

BK has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Barclays boosted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Bank of America increased their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 over the last quarter. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BK. Arjuna Capital acquired a new position in Bank of New York Mellon in the 1st quarter valued at about $1,327,000. Ontario Teachers Pension Plan Board grew its stake in shares of Bank of New York Mellon by 1.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,504 shares of the bank's stock valued at $1,049,000 after buying an additional 138 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Bank of New York Mellon during the first quarter worth about $331,000. ASR Vermogensbeheer N.V. purchased a new stake in Bank of New York Mellon during the first quarter worth about $12,181,000. Finally, Citizens Financial Group Inc. RI increased its stake in shares of Bank of New York Mellon by 31.3% in the first quarter. Citizens Financial Group Inc. RI now owns 163,677 shares of the bank's stock worth $13,728,000 after purchasing an additional 38,990 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Up 0.5 %

BK traded up $0.40 during midday trading on Wednesday, reaching $85.90. 3,855,244 shares of the company were exchanged, compared to its average volume of 4,004,821. The stock's 50-day simple moving average is $80.67 and its 200 day simple moving average is $80.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $61.46 billion, a P/E ratio of 14.78, a PEG ratio of 0.97 and a beta of 1.05. Bank of New York Mellon has a one year low of $57.18 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 EPS. As a group, analysts forecast that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.19%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) 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.