Bank Of New York Mellon Corp. (NYSE:BK) – Equities research analysts at Jefferies Group upped their FY2016 earnings per share estimates for Bank Of New York Mellon Corp. in a report released on Monday. Jefferies Group analyst K. Usdin now expects that the firm will post earnings of $3.00 per share for the year, up from their prior estimate of $2.98. Jefferies Group has a “Hold” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for Bank Of New York Mellon Corp.’s Q1 2017 earnings at $0.70 EPS, Q2 2017 earnings at $0.78 EPS, Q3 2017 earnings at $0.86 EPS, Q4 2017 earnings at $0.80 EPS and FY2018 earnings at $3.40 EPS.

Bank Of New York Mellon Corp. (NYSE:BK) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The company earned $3.78 billion during the quarter, compared to analyst estimates of $3.79 billion. Bank Of New York Mellon Corp. had a return on equity of 9.31% and a net margin of 20.86%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share.

Earnings History and Estimates for Bank Of New York Mellon Corp. (NYSE:BK)

Several other brokerages have also recently issued reports on BK. Credit Suisse Group AG reiterated a “hold” rating and set a $42.00 price target on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, August 30th. Deutsche Bank AG lifted their price target on Bank Of New York Mellon Corp. from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research upgraded Bank Of New York Mellon Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 29th. Buckingham Research reiterated a “buy” rating on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, June 21st. Finally, Credit Agricole SA lifted their target price on Bank Of New York Mellon Corp. from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Six 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 stock. The company currently has an average rating of “Buy” and a consensus price target of $45.05.

Shares of Bank Of New York Mellon Corp. (NYSE:BK) traded down 1.57% during midday trading on Tuesday, reaching $40.04. The company’s stock had a trading volume of 2,162,325 shares. Bank Of New York Mellon Corp. has a 52 week low of $32.20 and a 52 week high of $44.73. The stock has a market capitalization of $42.75 billion, a PE ratio of 14.36 and a beta of 1.38. The stock has a 50-day moving average price of $40.58 and a 200 day moving average price of $39.80.

In other news, Director Trian Fund Management, L.P. acquired 152,000 shares of Bank Of New York Mellon Corp. stock in a transaction that occurred on Friday, July 22nd. The stock was purchased at an average price of $38.87 per share, with a total value of $5,908,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Kings Point Capital Management boosted its stake in shares of Bank Of New York Mellon Corp. by 6.1% in the first quarter. Kings Point Capital Management now owns 94,042 shares of the company’s stock worth $3,464,000 after buying an additional 5,440 shares in the last quarter. Cypress Capital Management LLC boosted its stake in shares of Bank Of New York Mellon Corp. by 4.2% in the first quarter. Cypress Capital Management LLC now owns 139,743 shares of the company’s stock worth $5,147,000 after buying an additional 5,683 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Bank Of New York Mellon Corp. by 8.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,212,224 shares of the company’s stock worth $44,646,000 after buying an additional 90,090 shares in the last quarter. Credit Agricole S A boosted its stake in shares of Bank Of New York Mellon Corp. by 11.3% in the first quarter. Credit Agricole S A now owns 2,193,186 shares of the company’s stock worth $80,774,000 after buying an additional 223,495 shares in the last quarter. Finally, AMF Pensionsforsakring AB boosted its stake in shares of Bank Of New York Mellon Corp. by 2.6% in the first quarter. AMF Pensionsforsakring AB now owns 1,701,192 shares of the company’s stock worth $62,655,000 after buying an additional 43,173 shares in the last quarter. 81.93% of the stock is owned by institutional investors.

Bank Of New York Mellon Corp. Company Profile

The Bank of New York Mellon Corporation (BNY Mellon) is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

5 Day Chart for NYSE:BK

Receive News & Stock Ratings for Bank Of New York Mellon Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corp. and related stocks with our FREE daily email newsletter.