Shares of Bank of New York Mellon Corp (NYSE:BK) have been given an average rating of “Hold” by the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $58.17.
BK has been the subject of a number of recent analyst reports. Sandler O’Neill reissued a “hold” rating on shares of Bank of New York Mellon in a report on Friday, July 13th. Vining Sparks reissued a “buy” rating and issued a $62.00 price objective on shares of Bank of New York Mellon in a report on Monday, July 23rd. ValuEngine lowered Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Keefe, Bruyette & Woods set a $56.00 price objective on Bank of New York Mellon and gave the stock a “hold” rating in a report on Thursday, July 19th. Finally, Wolfe Research initiated coverage on Bank of New York Mellon in a report on Tuesday, September 25th. They issued an “underperform” rating for the company.
Shares of NYSE:BK traded down $0.53 during trading on Monday, hitting $48.50. 4,474,890 shares of the company traded hands, compared to its average volume of 6,690,123. The firm has a market capitalization of $48.22 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. Bank of New York Mellon has a one year low of $45.16 and a one year high of $58.99. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.
Bank of New York Mellon (NYSE:BK) last posted its earnings results on Thursday, October 18th. The bank reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.15 billion. Bank of New York Mellon had a return on equity of 11.48% and a net margin of 24.92%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. As a group, analysts predict that Bank of New York Mellon will post 4.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Tuesday, October 30th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, October 29th. This represents a $1.12 dividend on an annualized basis and a yield of 2.31%. Bank of New York Mellon’s dividend payout ratio (DPR) is 31.11%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BK. DnB Asset Management AS lifted its position in Bank of New York Mellon by 4.5% in the second quarter. DnB Asset Management AS now owns 127,967 shares of the bank’s stock worth $6,901,000 after purchasing an additional 5,500 shares during the period. IFM Investors Pty Ltd lifted its position in Bank of New York Mellon by 42.0% in the second quarter. IFM Investors Pty Ltd now owns 45,648 shares of the bank’s stock worth $2,462,000 after purchasing an additional 13,502 shares during the period. Cullinan Associates Inc. lifted its position in Bank of New York Mellon by 50.7% in the second quarter. Cullinan Associates Inc. now owns 68,800 shares of the bank’s stock worth $3,710,000 after purchasing an additional 23,150 shares during the period. Fisher Asset Management LLC acquired a new stake in Bank of New York Mellon in the second quarter worth approximately $250,000. Finally, Radnor Capital Management LLC acquired a new stake in Bank of New York Mellon in the second quarter worth approximately $205,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.
Bank of New York Mellon Company Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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