Analysts Set The Bank of New York Mellon Corporation (NYSE:BK) PT at $131.92

The Bank of New York Mellon Corporation (NYSE:BK) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $131.9167.

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped 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 note on Wednesday, January 14th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th.

Institutional Trading of Bank of New York Mellon

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC lifted its position in Bank of New York Mellon by 133.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after acquiring an additional 52,412 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Bank of New York Mellon by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after purchasing an additional 8,277 shares during the period. Investment Management Corp of Ontario raised its stake in shares of Bank of New York Mellon by 25.9% in the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after purchasing an additional 25,842 shares during the last quarter. First National Advisers LLC acquired a new stake in shares of Bank of New York Mellon during the third quarter worth about $3,304,000. Finally, First Horizon Corp purchased a new stake in Bank of New York Mellon in the third quarter valued at approximately $22,072,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Down 0.9%

Shares of NYSE:BK opened at $126.49 on Friday. The business’s 50 day moving average is $118.90 and its 200 day moving average is $110.75. The stock has a market cap of $88.21 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. Bank of New York Mellon has a 52-week low of $70.46 and a 52-week high of $128.76. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last issued its earnings results 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 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is 28.61%.

Bank of New York Mellon Company Profile

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.