Bank of New York Mellon Corp (NYSE:BK) – Investment analysts at Jefferies Financial Group increased their Q3 2021 earnings estimates for shares of Bank of New York Mellon in a report released on Wednesday, July 8th. Jefferies Financial Group analyst K. Usdin now expects that the bank will earn $1.08 per share for the quarter, up from their prior forecast of $0.89. Jefferies Financial Group has a “Buy” rating and a $45.00 price objective on the stock. Jefferies Financial Group also issued estimates for Bank of New York Mellon’s Q4 2021 earnings at $1.02 EPS and FY2021 earnings at $4.10 EPS.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.15. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.87 billion. Bank of New York Mellon had a return on equity of 10.59% and a net margin of 21.60%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share.

Other equities research analysts also recently issued research reports about the company. UBS Group lowered their price target on Bank of New York Mellon from $56.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. JPMorgan Chase & Co. upgraded Bank of New York Mellon from an “underweight” rating to a “neutral” rating in a research report on Sunday, April 19th. Keefe, Bruyette & Woods upgraded Bank of New York Mellon from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research report on Wednesday, April 1st. Royal Bank of Canada reiterated a “hold” rating on shares of Bank of New York Mellon in a research report on Sunday, April 19th. Finally, Wells Fargo & Co lifted their price target on shares of Bank of New York Mellon from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.03.

Shares of NYSE:BK opened at $38.86 on Monday. The company’s fifty day moving average price is $38.37 and its 200-day moving average price is $39.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $33.98 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.26 and a beta of 1.10. Bank of New York Mellon has a one year low of $26.40 and a one year high of $51.60.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.19%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.85%.

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 10,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.12, for a total transaction of $351,200.00. Following the completion of the transaction, the executive vice president now owns 119,870 shares of the company’s stock, valued at approximately $4,209,834.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bridget E. Engle sold 37,913 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $37.53, for a total value of $1,422,874.89. Following the transaction, the vice president now owns 100,160 shares of the company’s stock, valued at approximately $3,759,004.80. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BK. Laurel Wealth Advisors LLC raised its stake in Bank of New York Mellon by 18.3% during the first quarter. Laurel Wealth Advisors LLC now owns 1,941 shares of the bank’s stock valued at $65,000 after purchasing an additional 300 shares in the last quarter. Column Capital Advisors LLC increased its holdings in shares of Bank of New York Mellon by 20.6% in the 1st quarter. Column Capital Advisors LLC now owns 1,758 shares of the bank’s stock worth $59,000 after buying an additional 300 shares during the last quarter. CSat Investment Advisory L.P. raised its position in shares of Bank of New York Mellon by 13.2% during the 1st quarter. CSat Investment Advisory L.P. now owns 2,706 shares of the bank’s stock valued at $91,000 after buying an additional 316 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Bank of New York Mellon by 0.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 36,030 shares of the bank’s stock valued at $1,393,000 after acquiring an additional 330 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its position in Bank of New York Mellon by 123.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 656 shares of the bank’s stock worth $25,000 after acquiring an additional 362 shares in the last quarter. 81.65% of the stock is owned by institutional investors.

About Bank of New York Mellon

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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Earnings History and Estimates for Bank of New York Mellon (NYSE:BK)

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