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

Shares of The Bank of New York Mellon Co. (NYSE:BK) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $91.31.

BK has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Barclays boosted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Morgan Stanley decreased their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently bought and sold shares of BK. Opal Wealth Advisors LLC bought a new position in Bank of New York Mellon in the 1st quarter worth approximately $25,000. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at $28,000. REAP Financial Group LLC increased its holdings in Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Finally, Transce3nd LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth $33,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $76.25 on Friday. Bank of New York Mellon has a twelve month low of $55.42 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $54.75 billion, a P/E ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The stock’s 50 day moving average is $82.72 and its 200 day moving average is $80.29.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. On average, equities research analysts predict that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.47%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

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.