The Bank of New York Mellon Co. (NYSE:BK) Given Consensus Recommendation of “Moderate Buy” by Analysts

The Bank of New York Mellon Co. (NYSE:BK) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $82.64.

Several brokerages recently issued reports on BK. Citigroup raised their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Barclays lifted their price objective on Bank of New York Mellon from $86.00 to $102.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI increased their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $77.88 on Thursday. The stock’s 50-day moving average is $78.50 and its 200-day moving average is $71.37. Bank of New York Mellon has a 1-year low of $52.21 and a 1-year high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market cap of $56.62 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Equities research analysts anticipate that Bank of New York Mellon will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently bought and sold shares of BK. Farther Finance Advisors LLC raised its holdings in shares of Bank of New York Mellon by 19.6% in the second quarter. Farther Finance Advisors LLC now owns 3,974 shares of the bank’s stock valued at $239,000 after purchasing an additional 650 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Bank of New York Mellon by 6.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 6,394 shares of the bank’s stock worth $383,000 after buying an additional 412 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Bank of New York Mellon by 8.4% in the 2nd quarter. Natixis Advisors LLC now owns 269,747 shares of the bank’s stock worth $16,155,000 after buying an additional 20,834 shares during the last quarter. Resonant Capital Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $253,000. Finally, Rhumbline Advisers increased its position in shares of Bank of New York Mellon by 5.4% during the second quarter. Rhumbline Advisers now owns 1,879,053 shares of the bank’s stock valued at $112,536,000 after acquiring an additional 95,694 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

About Bank of New York Mellon

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.