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

Bank of New York Mellon Corporation (NYSE:BNY) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $138.0769.

A number of equities analysts have recently issued reports on BNY shares. Truist Financial upped their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Royal Bank Of Canada upped their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 17th. Barclays upped their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Finally, Citigroup started coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently modified their holdings of BNY. Northwestern Mutual Wealth Management Co. raised its stake in shares of Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after buying an additional 19,561,793 shares during the last quarter. Norges Bank bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after buying an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Bank of New York Mellon by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after buying an additional 2,034,781 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $227,437,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $139.15 on Friday. Bank of New York Mellon has a 1 year low of $87.41 and a 1 year high of $139.15. The firm’s 50 day moving average is $127.66 and its 200-day moving average is $120.37. The firm has a market capitalization of $95.77 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.02 and a beta of 1.08. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the business earned $1.58 earnings per share. Bank of New York Mellon’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts forecast that Bank of New York Mellon will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s payout ratio is 26.27%.

Bank of New York Mellon Company Profile

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.