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 Trading Down 0.4 %

Shares of NYSE:BK traded down $0.19 during mid-day trading on Monday, hitting $43.31. The stock had a trading volume of 92,366 shares, compared to its average volume of 5,024,955. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.68 and a current ratio of 0.67. Bank of New York Mellon has a 1 year low of $39.78 and a 1 year high of $64.63. The business has a 50 day moving average price of $43.02 and a two-hundred day moving average price of $48.15. The firm has a market cap of $34.99 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12.

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

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 25th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.42%. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.34. The ex-dividend date was Friday, July 22nd. Bank of New York Mellon's payout ratio is presently 37.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BK shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bank of New York Mellon from $43.00 to $42.00 in a research report on Monday, July 18th. Morgan Stanley dropped their target price on shares of Bank of New York Mellon from $53.00 to $45.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 6th. Credit Suisse Group dropped their target price on shares of Bank of New York Mellon from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, July 19th. UBS Group dropped their target price on shares of Bank of New York Mellon from $56.00 to $52.00 in a research report on Monday, July 11th. Finally, Wells Fargo & Company dropped their target price 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 report on Friday, July 1st. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $50.42.