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

The Bank of New York Mellon Corporation (NYSE:BK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fourteen analysts that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $91.85.

A number of brokerages recently weighed in on BK. Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Wells Fargo & Company increased their target price on 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. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their target price for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Royal Bank Of Canada reiterated 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. Finally, Citigroup increased their target price on 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.

Insider Activity at Bank of New York Mellon

In related 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 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 filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was 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 have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of hedge funds have recently bought and sold shares of BK. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $220,000. Sigma Planning Corp grew its stake in Bank of New York Mellon by 7.2% during the 4th quarter. Sigma Planning Corp now owns 5,862 shares of the bank's stock valued at $450,000 after purchasing an additional 392 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $1,246,000. IFP Advisors Inc grew its stake in Bank of New York Mellon by 42.4% during the 4th quarter. IFP Advisors Inc now owns 5,196 shares of the bank's stock valued at $399,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Bank of New York Mellon by 1,375.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 252,292 shares of the bank's stock valued at $19,384,000 after purchasing an additional 235,190 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $89.97 on Thursday. Bank of New York Mellon has a 12 month low of $58.19 and a 12 month high of $92.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $86.30 and a 200-day simple moving average of $83.45. The stock has a market capitalization of $64.37 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08.

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 for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. Bank of New York Mellon's quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts predict that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. Bank of New York Mellon's payout ratio is currently 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.

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