Bank of New York Mellon (NYSE:BK) Releases Earnings Results, Beats Expectations By $0.18 EPS

Bank of New York Mellon (NYSE:BK) announced its quarterly earnings data on Wednesday. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18, RTT News reports. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%.

Bank of New York Mellon Trading Down 0.2 %

Shares of NYSE:BK opened at $75.93 on Wednesday. Bank of New York Mellon has a 12-month low of $52.64 and a 12-month high of $82.72. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $55.21 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The firm has a fifty day moving average of $78.58 and a two-hundred day moving average of $71.94.

Analyst Ratings Changes

BK has been the subject of a number of research analyst reports. Evercore ISI upped their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Truist Financial started coverage on shares of Bank of New York Mellon in a report on Tuesday, January 7th. They set a “buy” rating and a $91.00 target price for the company. Barclays upped their price target on Bank of New York Mellon from $86.00 to $102.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 2nd. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.64.

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.