The Bank of New York Mellon Corporation (NYSE:BK) Receives $131.92 Average Target Price from Analysts

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 stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $131.9167.

Several brokerages have recently commented on BK. Barclays upped their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, January 27th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Royal Bank Of Canada lifted their target price 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 report on Wednesday, January 14th. Finally, TD Cowen boosted their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BK. Ashton Thomas Private Wealth LLC increased its position in Bank of New York Mellon by 133.2% during the third 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. Investment Management Corp of Ontario grew its position in Bank of New York Mellon by 25.9% in the 2nd 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 Bank of New York Mellon in the 3rd quarter worth $3,304,000. Jones Financial Companies Lllp increased its holdings in shares of Bank of New York Mellon by 35.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after purchasing an additional 8,277 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Bank of New York Mellon during the third quarter valued at about $22,072,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 3.2%

Shares of NYSE:BK opened at $124.42 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The stock has a market capitalization of $86.76 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.16 and a beta of 1.10. Bank of New York Mellon has a 1-year low of $70.46 and a 1-year high of $125.89. The company has a 50 day moving average price of $118.30 and a 200 day moving average price of $110.38.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company 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%. On average, research analysts anticipate that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

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.