Bank of New York Mellon (BK) Scheduled to Post Quarterly Earnings on Tuesday

Bank of New York Mellon (NYSE:BK) will issue its quarterly earnings data before the market opens on Tuesday, April 16th. Analysts expect the company to announce earnings of $1.18 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, January 12th. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the business posted $1.30 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, analysts expect Bank of New York Mellon to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Bank of New York Mellon Stock Up 0.5 %

BK stock opened at $57.04 on Tuesday. Bank of New York Mellon has a twelve month low of $39.65 and a twelve month high of $58.28. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a market cap of $42.94 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.20 and a beta of 1.12. The business has a 50 day moving average of $55.76 and a 200 day moving average of $50.53.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Monday, January 22nd were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Friday, January 19th. Bank of New York Mellon’s payout ratio is 42.32%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BK. Citigroup raised their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. UBS Group lifted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. JPMorgan Chase & Co. upgraded Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price objective on the stock in a research report on Monday, December 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.25.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 15,425 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total value of $850,843.00. Following the completion of the transaction, the vice president now owns 119,656 shares of the company’s stock, valued at approximately $6,600,224.96. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. raised its position in Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Sunbelt Securities Inc. acquired a new position in Bank of New York Mellon in the first quarter valued at $36,000. Coppell Advisory Solutions Corp. acquired a new position in Bank of New York Mellon in the fourth quarter valued at $45,000. Pacific Center for Financial Services purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at about $55,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of Bank of New York Mellon by 90.3% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,311 shares of the bank’s stock valued at $60,000 after buying an additional 622 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Company Profile

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.