Zacks Research Has Positive Outlook of BK FY2027 Earnings

The Bank of New York Mellon Co. (NYSE:BK) – Equities research analysts at Zacks Research raised their FY2027 earnings per share estimates for shares of Bank of New York Mellon in a research report issued on Tuesday, March 11th. Zacks Research analyst R. Department now anticipates that the bank will earn $8.74 per share for the year, up from their previous estimate of $8.73. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $6.96 per share.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS.

A number of other analysts have also recently issued reports on BK. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI upped their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Stock Down 1.5 %

Shares of NYSE BK opened at $79.58 on Friday. The stock has a market cap of $57.13 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. Bank of New York Mellon has a 52-week low of $52.64 and a 52-week high of $90.34. The business has a 50-day moving average price of $84.20 and a 200 day moving average price of $78.29.

Hedge Funds Weigh In On Bank of New York Mellon

A number of large investors have recently modified their holdings of BK. Assetmark Inc. increased its stake in Bank of New York Mellon by 64.7% in the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock valued at $134,000 after purchasing an additional 734 shares in the last quarter. Sigma Planning Corp increased its stake in Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after purchasing an additional 143 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the 3rd quarter valued at approximately $46,000. Venturi Wealth Management LLC increased its stake in Bank of New York Mellon by 21.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,147 shares of the bank’s stock valued at $82,000 after purchasing an additional 203 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in Bank of New York Mellon by 17.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 10,175 shares of the bank’s stock valued at $731,000 after purchasing an additional 1,524 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

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 2.36%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Bank of New York Mellon Company Profile

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.