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

12 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Bank of New York Mellon in the last year. There are currently 1 sell rating, 5 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" BK shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BK, but not buy additional shares or sell existing shares.
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12 brokers have issued 1-year price targets for Bank of New York Mellon's shares. Their BK share price forecasts range from $44.00 to $64.00. On average, they expect the company's stock price to reach $52.19 in the next twelve months. This suggests a possible upside of 3.9% from the stock's current price.
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Bank of New York Mellon's stock was trading at $45.52 at the beginning of 2023. Since then, BK stock has increased by 10.3% and is now trading at $50.23.
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Bank of New York Mellon saw a decrease in short interest during the month of December. As of December 30th, there was short interest totaling 3,230,000 shares, a decrease of 16.1% from the December 15th total of 3,850,000 shares. Based on an average daily volume of 4,960,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.4% of the shares of the stock are short sold.
View Bank of New York Mellon's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, April 17th 2023.
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The Bank of New York Mellon Co. (NYSE:BK) issued its earnings results on Friday, January, 13th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. The bank had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.12 billion. Bank of New York Mellon had a net margin of 12.87% and a trailing twelve-month return on equity of 10.78%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 earnings per share.
Read the conference call transcript.

Bank of New York Mellon announced a quarterly dividend on Friday, January 13th. Shareholders of record on Monday, January 23rd will be paid a dividend of $0.37 per share on Friday, February 3rd. This represents a $1.48 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, January 20th.
Read our dividend analysis for BK.

Bank of New York Mellon (NYSE:BK) pays an annual dividend of $1.48 per share and currently has a dividend yield of 2.95%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 51.03%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BK will have a dividend payout ratio of 28.68% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BK.

Bank of New York Mellon declared that its Board of Directors has approved a share buyback plan on Monday, June 28th 2021, which authorizes the company to repurchase $6,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

378 employees have rated Bank of New York Mellon Chief Executive Officer Todd Gibbons on Glassdoor.com. Todd Gibbons has an approval rating of 80% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Bank of New York Mellon investors own include Bank of America (BAC), JPMorgan Chase & Co. (JPM), Verizon Communications (VZ), AT&T (T), Intel (INTC), Johnson & Johnson (JNJ), Walt Disney (DIS), Wells Fargo & Company (WFC), Walmart (WMT) and Cisco Systems (CSCO).

Bank of New York Mellon trades on the New York Stock Exchange (NYSE) under the ticker symbol "BK."

Bank of New York Mellon's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Yacktman Asset Management LP (0.47%), Sumitomo Mitsui Trust Holdings Inc. (0.32%), New York State Common Retirement Fund (0.17%), Miller Howard Investments Inc. NY (0.15%), M&G Investment Management Ltd. (0.13%) and New York State Teachers Retirement System (0.12%). Insiders that own company stock include Berkshire Hathaway Inc, Bridget E Engle, J Kevin Mccarthy, Kurtis R Kurimsky, Mitchell E Harris, Salla Francis J La and Thomas P Gibbons.
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Shares of BK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of BK stock can currently be purchased for approximately $50.23.

Bank of New York Mellon (NYSE:BK) has a market capitalization of $40.60 billion and generates $19.99 billion in revenue each year. The bank earns $2.57 billion in net income (profit) each year or $2.90 on an earnings per share basis.

The company employs 49,100 workers across the globe.

Bank of New York Mellon's mailing address is 240 GREENWICH STREET, NEW YORK NY, 10286. The official website for the company is www.bnymellon.com. The bank can be reached via phone at (212) 495-1784, via email at shrrelations@bnymellon.com, or via fax at 302-655-5049.