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

The Bank of New York Mellon Corporation (NYSE:BK) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $131.9167.

A number of brokerages recently issued reports on BK. TD Cowen boosted their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Keefe, Bruyette & Woods raised their price objective on shares of 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. Royal Bank Of Canada increased their price target on 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. Finally, Citigroup initiated coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock.

Bank of New York Mellon Trading Down 1.4%

Shares of Bank of New York Mellon stock opened at $116.73 on Tuesday. Bank of New York Mellon has a 1-year low of $70.46 and a 1-year high of $128.76. The company’s fifty day simple moving average is $119.74 and its 200-day simple moving average is $112.57. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $80.18 billion, a PE ratio of 15.75, a P/E/G ratio of 1.11 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm 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%. As a group, equities analysts anticipate that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s payout ratio is currently 28.61%.

Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC raised its holdings 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 valued at $9,998,000 after buying an additional 52,412 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Bank of New York Mellon by 35.1% during the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after buying an additional 8,277 shares during the period. Investment Management Corp of Ontario grew its stake in shares of Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares during the last quarter. First National Advisers LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $3,304,000. Finally, First Horizon Corp bought a new position in Bank of New York Mellon in the 3rd quarter valued at $22,072,000. Institutional investors own 85.31% of the company’s stock.

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.