Somewhat Positive Press Coverage Extremely Likely to Affect Bank of New York Mellon (BK) Share Price
News headlines about Bank of New York Mellon (NYSE:BK) have been trending somewhat positive this week, according to InfoTrie. InfoTrie identifies positive and negative media coverage by monitoring more than 6,000 news and blog sources. The firm ranks coverage of public companies on a scale of negative five to five, with scores nearest to five being the most favorable. Bank of New York Mellon earned a daily sentiment score of 1.46 on their scale. InfoTrie also gave headlines about the bank an news buzz score of 10 out of 10, meaning that recent media coverage is extremely likely to have an impact on the company’s share price in the near term.
These are some of the headlines that may have effected Bank of New York Mellon’s analysis:
- Somewhat Positive News Coverage Extremely Likely to Impact Bank of New York Mellon (BK) Stock Price (americanbankingnews.com)
- Bank of New York Mellon (BK) Up 3.4% Since Last Earnings Report: Can It Continue? (finance.yahoo.com)
- Somewhat Favorable Press Coverage Extremely Likely to Impact Bank of New York Mellon (BK) Stock Price (americanbankingnews.com)
- Bank of New York Mellon (BK) Price Target Cut to $54.00 (americanbankingnews.com)
- Lester Owens Joins BNY Mellon as Head of Operations (finance.yahoo.com)
BK has been the subject of several recent analyst reports. Vining Sparks restated a “buy” rating and set a $62.00 target price on shares of Bank of New York Mellon in a research note on Tuesday, October 9th. Zacks Investment Research downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. ValuEngine downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Keefe, Bruyette & Woods downgraded Bank of New York Mellon from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $55.00 to $49.00 in a research report on Friday, October 19th. Finally, Deutsche Bank raised their price objective on Bank of New York Mellon from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Bank of New York Mellon has a consensus rating of “Hold” and an average target price of $57.77.
Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, October 18th. The bank reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. Bank of New York Mellon had a return on equity of 11.48% and a net margin of 24.92%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the firm posted $0.94 EPS. Bank of New York Mellon’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts forecast that Bank of New York Mellon will post 4.17 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Tuesday, October 30th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, October 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.24%. Bank of New York Mellon’s payout ratio is presently 31.11%.
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Bank of New York Mellon Company Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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