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

The Bank of New York Mellon Co. (NYSE:BK) has received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $68.88.

A number of brokerages have recently commented on BK. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Citigroup raised their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Morgan Stanley upped their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $80.00 in a report on Monday, September 23rd. Finally, Barclays upped their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of large investors have recently modified their holdings of the stock. Gilbert & Cook Inc. raised its holdings in Bank of New York Mellon by 4.7% in the fourth quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock worth $487,000 after purchasing an additional 419 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $397,000. US Bancorp DE increased its stake in Bank of New York Mellon by 17.4% during the 4th quarter. US Bancorp DE now owns 201,989 shares of the bank’s stock valued at $10,514,000 after purchasing an additional 29,899 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Bank of New York Mellon by 18.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 45,047 shares of the bank’s stock worth $2,374,000 after buying an additional 7,096 shares in the last quarter. Finally, Glassman Wealth Services increased its position in shares of Bank of New York Mellon by 42.8% during the fourth quarter. Glassman Wealth Services now owns 1,972 shares of the bank’s stock valued at $103,000 after acquiring an additional 591 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.3 %

Shares of BK stock opened at $71.70 on Tuesday. The company has a market capitalization of $53.62 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. Bank of New York Mellon has a 52-week low of $39.66 and a 52-week high of $73.19. The business’s fifty day moving average is $66.74 and its 200 day moving average is $61.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.38 EPS. On average, equities research analysts anticipate that Bank of New York Mellon will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.62%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is 43.52%.

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.