Equities Analysts Offer Predictions for BK FY2024 Earnings

The Bank of New York Mellon Co. (NYSE:BK) – Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Bank of New York Mellon in a report released on Monday, January 6th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $5.81 for the year, up from their previous forecast of $5.78. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $5.84 per share. Zacks Research also issued estimates for Bank of New York Mellon’s Q4 2024 earnings at $1.48 EPS, Q1 2025 earnings at $1.40 EPS, Q2 2025 earnings at $1.65 EPS, Q3 2025 earnings at $1.59 EPS, FY2025 earnings at $6.31 EPS, Q1 2026 earnings at $1.64 EPS, Q2 2026 earnings at $1.81 EPS, Q3 2026 earnings at $1.78 EPS, Q4 2026 earnings at $1.93 EPS and FY2026 earnings at $7.17 EPS.

BK has been the topic of a number of other reports. Citigroup raised their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group increased their price objective on 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. Truist Financial began coverage on Bank of New York Mellon in a research report on Tuesday. They issued a “buy” rating and a $91.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $77.88 on Wednesday. The firm has a market capitalization of $56.62 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock’s 50-day simple moving average is $78.50 and its two-hundred day simple moving average is $71.37. Bank of New York Mellon has a twelve month low of $52.21 and a twelve month high of $82.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%.

Institutional Investors Weigh In On Bank of New York Mellon

Several large investors have recently bought and sold shares of BK. McClarren Financial Advisors Inc. boosted its stake in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Clearstead Trust LLC purchased a new position in Bank of New York Mellon in the second quarter worth about $32,000. Fortitude Family Office LLC grew its stake in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the period. Grove Bank & Trust increased its position in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $46,000. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 40.87%.

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.