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.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $44.37 on Friday. The stock's fifty day moving average is $42.85 and its two-hundred day moving average is $47.99. The company has a market capitalization of $35.86 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. The company has a quick ratio of 0.68, a current ratio of 0.67 and a debt-to-equity ratio of 0.78. Bank of New York Mellon has a 52 week low of $39.78 and a 52 week high of $64.63.

Bank of New York Mellon (NYSE:BK - Get Rating) last announced its quarterly earnings data on Friday, July 15th. The bank reported $1.03 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.09). The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate 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 was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. As a group, analysts expect that Bank of New York Mellon will post 4.3 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Monday, July 25th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Friday, July 22nd. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.34. Bank of New York Mellon's dividend payout ratio is 37.56%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BK. Deutsche Bank Aktiengesellschaft cut their price objective on Bank of New York Mellon from $43.00 to $42.00 in a research note on Monday, July 18th. UBS Group cut their price objective on Bank of New York Mellon from $56.00 to $52.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. cut their price objective on Bank of New York Mellon from $51.50 to $46.50 in a research note on Monday, July 11th. Royal Bank of Canada cut their price objective on Bank of New York Mellon from $56.00 to $49.00 and set a "sector perform" rating for the company in a research note on Friday, July 1st. Finally, The Goldman Sachs Group lowered their price target on Bank of New York Mellon from $51.50 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, June 29th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $50.42.

Insider Buying and Selling at Bank of New York Mellon

In other news, CEO Thomas P. Gibbons sold 105,062 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $43.24, for a total transaction of $4,542,880.88. Following the transaction, the chief executive officer now owns 221,018 shares of the company's stock, valued at approximately $9,556,818.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by corporate insiders.