Recent Investment Analysts’ Ratings Changes for Bank of New York Mellon (BK)

A number of firms have modified their ratings and price targets on shares of Bank of New York Mellon (NYSE: BK) recently:

• 9/30/2024 – Bank of New York Mellon had its price target raised by analysts at Morgan Stanley from $72.00 to $78.00. They now have an “equal weight” rating on the stock.
• 9/26/2024 – Bank of New York Mellon had its price target raised by analysts at The Goldman Sachs Group, Inc. from $74.00 to $80.00. They now have a “buy” rating on the stock.
• 9/23/2024 – Bank of New York Mellon was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating. They now have a $80.00 price target on the stock, up previously from $66.00.
• 9/19/2024 – Bank of New York Mellon had its price target raised by analysts at Citigroup Inc. from $65.00 to $70.00. They now have a “neutral” rating on the stock.
• 8/15/2024 – Bank of New York Mellon had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $66.00. They now have a “hold” rating on the stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded down $0.33 on Thursday, reaching $70.62. 85,697 shares of the company traded hands, compared to its average volume of 3,834,664. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $52.81 billion, a PE ratio of 16.35, a PEG ratio of 1.24 and a beta of 1.08. The company has a 50 day moving average of $67.20 and a 200 day moving average of $61.60. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $73.19.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. Equities analysts forecast that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a $0.47 dividend. The ex-dividend date was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.66%. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Bank of New York Mellon

Several institutional investors and hedge funds have recently modified their holdings of BK. Czech National Bank increased its holdings in shares of Bank of New York Mellon by 5.5% in the 3rd quarter. Czech National Bank now owns 150,329 shares of the bank’s stock worth $10,803,000 after buying an additional 7,825 shares during the last quarter. M&R Capital Management Inc. grew its position in Bank of New York Mellon by 8.6% in the third quarter. M&R Capital Management Inc. now owns 16,352 shares of the bank’s stock worth $1,175,000 after acquiring an additional 1,291 shares in the last quarter. Centaurus Financial Inc. increased its stake in Bank of New York Mellon by 37.7% in the second quarter. Centaurus Financial Inc. now owns 6,580 shares of the bank’s stock valued at $394,000 after acquiring an additional 1,803 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Bank of New York Mellon by 0.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 387,500 shares of the bank’s stock valued at $23,207,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Heritage Wealth Management Inc. purchased a new stake in Bank of New York Mellon during the second quarter valued at about $600,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.