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 Down 0.2 %

Shares of Bank of New York Mellon stock traded down $0.08 during trading on Tuesday, hitting $44.63. 13,634 shares of the stock were exchanged, compared to its average volume of 2,737,319. The stock has a market cap of $36.07 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. The firm's 50-day moving average price is $42.77 and its 200 day moving average price is $47.54. Bank of New York Mellon has a 12-month low of $39.78 and a 12-month high of $64.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.67 and a quick ratio of 0.67.

Bank of New York Mellon (NYSE:BK - Get Rating) last released its quarterly earnings data on Friday, July 15th. The bank reported $1.03 earnings per share (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 for the quarter, compared to analysts' expectations of $4.17 billion. During the same period last year, the firm posted $1.13 earnings per share. Bank of New York Mellon's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts forecast 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 given a $0.37 dividend. The ex-dividend date of this dividend was Friday, July 22nd. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 3.32%. Bank of New York Mellon's payout ratio is 37.56%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BK. Citigroup dropped their target price on shares of Bank of New York Mellon from $50.00 to $46.00 in a report on Tuesday, July 12th. Morgan Stanley decreased their price target 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. The Goldman Sachs Group decreased 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 report on Wednesday, June 29th. JPMorgan Chase & Co. decreased their price target on shares of Bank of New York Mellon from $51.50 to $46.50 in a research report on Monday, July 11th. Finally, Royal Bank of Canada decreased their price target on shares of Bank of New York Mellon from $56.00 to $49.00 and set a "sector perform" rating for the company in a research report on Friday, July 1st. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of "Hold" and a consensus target price of $50.73.

Insider Activity at Bank of New York Mellon

In related news, CEO Thomas P. Gibbons sold 105,062 shares of the business's stock in a transaction on Monday, August 8th. The shares were sold at an average price of $43.24, for a total value of $4,542,880.88. Following the completion of the sale, the chief executive officer now directly owns 221,018 shares of the company's stock, valued at $9,556,818.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by corporate insiders.