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.

Analysts Set New Price Targets

BK has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Bank of New York Mellon from $57.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday, July 1st. UBS Group lowered their target price on shares of Bank of New York Mellon from $56.00 to $52.00 in a research note on Monday, July 11th. Piper Sandler lowered their price target on shares of Bank of New York Mellon from $54.00 to $48.00 and set a "neutral" rating on the stock in a research report on Friday, June 24th. Credit Suisse Group lowered their price target on shares of Bank of New York Mellon from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 19th. Finally, Citigroup lowered their price target on shares of Bank of New York Mellon from $50.00 to $46.00 in a research report on Tuesday, July 12th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $50.73.

Bank of New York Mellon Stock Up 1.2 %

BK opened at $44.90 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.67 and a debt-to-equity ratio of 0.78. The firm has a market cap of $36.28 billion, a P/E ratio of 11.26, a PEG ratio of 1.70 and a beta of 1.12. Bank of New York Mellon has a 52 week low of $39.78 and a 52 week high of $64.63. The business's fifty day simple moving average is $42.80 and its 200 day simple moving average is $47.89.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same period in the previous year, the business posted $1.13 earnings per share. The firm's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Monday, July 25th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.30%. This is a positive change 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 dividend payout ratio (DPR) is presently 37.56%.

Insider Activity

In related news, CEO Thomas P. Gibbons sold 105,062 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 221,018 shares in the company, valued at approximately $9,556,818.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.