Bank of New York Mellon - BK Stock Forecast, Price & News

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, prime brokerage, and data analytics. This segment also provides trustee, paying agency, fiduciary, escrow and other financial, issuer, and support services for brokers and investors. The Market and Wealth Services segment offers clearing and custody, investment, wealth and retirement solutions, technology and enterprise data management, trading, and prime brokerage services; and clearance and collateral management services. This segment also provides integrated cash management solutions, including payments, foreign exchange, liquidity management, receivables processing and payables management, and trade finance and processing services. The Investment and Wealth Management segment offers investment management strategies and distribution of investment products, investment management, custody, wealth and estate planning, private banking, investment, and information management services. The Other segment engages in the provision of leasing, corporate treasury, derivative and other trading, corporate and bank-owned life insurance, renewable energy investment, and business exit services. It serves central banks and sovereigns, financial institutions, asset managers, insurance companies, corporations, local authorities and high net-worth individuals, and family offices. The company was founded in 1784 and is headquartered in New York, New York.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BK. JPMorgan Chase & Co. reduced their target price on shares of Bank of New York Mellon from $51.50 to $46.50 in a research note on Monday, July 11th. Citigroup cut their price target on shares of Bank of New York Mellon from $50.00 to $46.00 in a research note on Tuesday, July 12th. Piper Sandler cut their price target on shares of Bank of New York Mellon from $54.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, June 24th. Wells Fargo & Company cut their price target on shares of Bank of New York Mellon from $57.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, July 1st. Finally, The Goldman Sachs Group cut their price target on shares of Bank of New York Mellon from $51.50 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, June 29th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of "Hold" and a consensus target price of $50.42.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $43.19 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.67 and a quick ratio of 0.68. The firm has a market cap of $34.89 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.69 and a beta of 1.12. The firm has a 50 day simple moving average of $42.88 and a 200 day simple moving average of $48.01. Bank of New York Mellon has a fifty-two week low of $39.78 and a fifty-two week high of $64.63.

Bank of New York Mellon (NYSE:BK - Get Rating) last issued its quarterly earnings results on Friday, July 15th. The bank reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.09). The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.17 billion. Bank of New York Mellon had a net margin of 20.61% and a return on equity of 9.49%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. Sell-side analysts predict that Bank of New York Mellon will post 4.3 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 25th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.43%. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.34. Bank of New York Mellon's dividend payout ratio (DPR) is currently 37.56%.