The Bank of New York Mellon Corporation (NYSE:BK) Receives $115.43 Consensus Target Price from Analysts

The Bank of New York Mellon Corporation (NYSE:BK) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $129.00.

BK has been the subject of several recent research reports. BMO Capital Markets assumed coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday. Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $121.34 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. Bank of New York Mellon has a 52 week low of $70.46 and a 52 week high of $125.89. The firm has a market cap of $84.62 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11. The firm’s fifty day moving average is $115.07 and its 200-day moving average is $107.74.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Sell-side analysts predict that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Institutional Investors Weigh In On Bank of New York Mellon

A number of hedge funds have recently added to or reduced their stakes in BK. Westside Investment Management Inc. grew its position in shares of Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares during the period. Marquette Asset Management LLC boosted its stake in Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Hoey Investments Inc. acquired a new stake in Bank of New York Mellon in the second quarter worth $32,000. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon in the third quarter valued at $33,000. Finally, GFG Capital LLC acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $36,000. 85.31% of the stock is currently owned by institutional investors.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.