FY2024 Earnings Forecast for The Bank of New York Mellon Co. Issued By Seaport Res Ptn (NYSE:BK)

The Bank of New York Mellon Co. (NYSE:BK) – Equities researchers at Seaport Res Ptn increased their FY2024 earnings estimates for Bank of New York Mellon in a research report issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now expects that the bank will earn $5.67 per share for the year, up from their previous estimate of $5.60. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $5.63 per share. Seaport Res Ptn also issued estimates for Bank of New York Mellon’s Q2 2025 earnings at $1.68 EPS, Q3 2025 earnings at $1.65 EPS, Q4 2025 earnings at $1.78 EPS and FY2025 earnings at $6.45 EPS.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. Bank of New York Mellon’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS.

A number of other research analysts also recently commented on BK. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. The Goldman Sachs Group upped 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 report on Thursday, September 26th. Morgan Stanley increased their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Finally, Barclays upped their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.38.

Bank of New York Mellon Trading Up 1.7 %

Shares of NYSE:BK opened at $71.99 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $67.46 and a 200-day moving average of $61.78. Bank of New York Mellon has a twelve month low of $39.66 and a twelve month high of $73.19. The firm has a market cap of $53.84 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.24 and a beta of 1.08.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were paid a $0.47 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 2.61%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BK. Vanguard Group Inc. boosted its holdings in Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after purchasing an additional 4,293,751 shares during the last quarter. Marshall Wace LLP lifted its stake in Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after acquiring an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Bank of New York Mellon by 6,040.9% during the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after acquiring an additional 1,020,906 shares in the last quarter. M&G Plc acquired a new position in Bank of New York Mellon during the first quarter valued at approximately $55,543,000. Finally, Putnam Investments LLC grew its position in shares of Bank of New York Mellon by 224.9% in the fourth quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock valued at $52,105,000 after purchasing an additional 692,910 shares during the last quarter. Hedge funds and other 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.