Bank of New York Mellon Corporation (NYSE:BNY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Bank of New York Mellon Corporation (NYSE:BNY) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $143.4615.

A number of research firms have issued reports on BNY. Truist Financial upped their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a report on Friday, April 17th. Finally, Citigroup lifted their target price on shares of Bank of New York Mellon from $136.00 to $167.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the transaction, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last three months. 0.17% of the stock is currently owned by company insiders.

Institutional Trading of Bank of New York Mellon

A number of institutional investors and hedge funds have recently modified their holdings of BNY. Abound Financial LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $27,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. Marquette Asset Management LLC raised its holdings in Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, Heritage Wealth Advisors bought a new position in shares of Bank of New York Mellon during the fourth quarter worth $31,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.0%

BNY stock opened at $151.97 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. Bank of New York Mellon has a twelve month low of $92.67 and a twelve month high of $155.08. The company has a market cap of $104.31 billion, a P/E ratio of 18.83, a PEG ratio of 1.12 and a beta of 1.07. The business has a fifty day moving average of $141.45 and a 200-day moving average of $128.44.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 earnings per share. As a group, equities research analysts expect that Bank of New York Mellon will post 8.94 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

About Bank of New York Mellon

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.