By otakuyassine3@gmail.com 
Bank of New York Mellon (NYSE:BK – Free Report) had its target price raised by Evercore ISI from $79.00 to $83.00 in a research report sent to investors on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the bank’s stock.
Several other research firms have also recently commented on BK. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Saturday, December 14th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.14.
View Our Latest Stock Analysis on BK
Bank of New York Mellon Trading Up 0.3 %
Shares of NYSE:BK opened at $82.28 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day moving average is $78.65 and its 200-day moving average is $72.01. The company has a market cap of $59.83 billion, a P/E ratio of 17.89, a P/E/G ratio of 0.76 and a beta of 1.08. Bank of New York Mellon has a 52-week low of $52.64 and a 52-week high of $82.72.
Bank of New York Mellon (NYSE:BK – Get Free Report) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $1.28 EPS. The company’s revenue was up 11.2% on a year-over-year basis. Equities research analysts predict that Bank of New York Mellon will post 5.87 earnings per share for the current year.
Bank of New York Mellon Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.28%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of BK. McClarren Financial Advisors Inc. increased its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the third quarter valued at about $46,000. Finally, Modus Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth about $49,000. Institutional investors own 85.31% of the company’s stock.
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.
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