Bank of New York Mellon Corp (NYSE:BK) – Analysts at Piper Sandler increased their Q4 2020 EPS estimates for shares of Bank of New York Mellon in a research note issued on Wednesday, July 8th. Piper Sandler analyst J. Harte now expects that the bank will earn $0.90 per share for the quarter, up from their prior estimate of $0.87. Piper Sandler also issued estimates for Bank of New York Mellon’s Q1 2021 earnings at $0.87 EPS, Q2 2021 earnings at $0.98 EPS, Q3 2021 earnings at $1.06 EPS, Q4 2021 earnings at $1.05 EPS and FY2021 earnings at $3.96 EPS.

BK has been the subject of a number of other research reports. Goldman Sachs Group raised shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and decreased their target price for the company from $49.00 to $39.00 in a research note on Tuesday, March 24th. Royal Bank of Canada reissued a “hold” rating on shares of Bank of New York Mellon in a research note on Sunday, April 19th. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from an “underweight” rating to a “neutral” rating in a research note on Sunday, April 19th. Zacks Investment Research lowered shares of Bank of New York Mellon from a “hold” rating to a “sell” rating and set a $37.00 price objective for the company. in a research note on Tuesday, April 7th. Finally, Deutsche Bank reduced their price objective on shares of Bank of New York Mellon from $41.00 to $40.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $45.03.

NYSE BK opened at $38.86 on Monday. The firm’s 50 day moving average price is $38.37 and its two-hundred day moving average price is $39.82. The stock has a market cap 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 twelve month low of $26.40 and a twelve month high of $51.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 0.72.

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

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

In other news, VP Bridget E. Engle sold 37,913 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $37.53, for a total transaction of $1,422,874.89. Following the transaction, the vice president now owns 100,160 shares in the company, valued at approximately $3,759,004.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 10,000 shares of the company’s 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 sale, the executive vice president now directly owns 119,870 shares in the company, valued at approximately $4,209,834.40. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Windsor Group LTD bought a new stake in Bank of New York Mellon in the second quarter valued at about $203,000. Bank of America Corp DE increased its stake in Bank of New York Mellon by 8.9% in the fourth quarter. Bank of America Corp DE now owns 4,560,688 shares of the bank’s stock valued at $229,540,000 after acquiring an additional 372,969 shares during the period. DNB Asset Management AS grew its stake in Bank of New York Mellon by 9.9% during the second quarter. DNB Asset Management AS now owns 91,324 shares of the bank’s stock worth $3,530,000 after buying an additional 8,202 shares during the last quarter. Invesco Ltd. grew its stake in Bank of New York Mellon by 3.0% during the first quarter. Invesco Ltd. now owns 8,583,355 shares of the bank’s stock worth $289,087,000 after buying an additional 250,327 shares during the last quarter. Finally, Waddell & Reed Financial Inc. bought a new stake in Bank of New York Mellon during the first quarter worth about $13,857,000. 81.65% of the stock is currently owned by institutional investors and hedge funds.

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

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