Bank of New York Mellon (NYSE:BK) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Bank of New York Mellon (NYSE:BK) from a buy rating to a hold rating in a report released on Wednesday.

Several other equities analysts have also issued reports on BK. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Citigroup increased their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.1 %

NYSE:BK opened at $87.29 on Wednesday. Bank of New York Mellon has a one year low of $52.64 and a one year high of $89.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market cap of $63.46 billion, a PE ratio of 15.02, a P/E/G ratio of 1.00 and a beta of 1.08. The firm’s 50 day simple moving average is $82.04 and its 200 day simple moving average is $76.26.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. On average, research analysts anticipate that Bank of New York Mellon will post 6.93 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Institutional Investors Weigh In On Bank of New York Mellon

Several large investors have recently modified their holdings of BK. Parvin Asset Management LLC purchased a new stake in Bank of New York Mellon in the fourth quarter worth $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $28,000. Transce3nd LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $33,000. South Plains Financial Inc. purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $35,000. 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.