The Bank of New York Mellon Co. (NYSE:BK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of The Bank of New York Mellon Co. (NYSE:BK) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $81.00.

BK has been the topic of several research analyst reports. UBS Group increased their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $79.56 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50-day moving average is $77.51 and its 200-day moving average is $68.74. Bank of New York Mellon has a 52-week low of $49.73 and a 52-week high of $82.72. The company has a market cap of $57.85 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Equities research analysts anticipate that Bank of New York Mellon will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.36%. Bank of New York Mellon’s payout ratio is 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. McClarren Financial Advisors Inc. grew its stake in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares in the last quarter. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter valued at $32,000. Family Firm Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter valued at about $40,000. Fortitude Family Office LLC boosted its position in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the period. Finally, Grove Bank & Trust grew its stake in Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

About Bank of New York Mellon

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, and data analytics.