Bank of New York Mellon (BK) Projected to Post Earnings on Friday

Bank of New York Mellon (NYSE:BK) is anticipated to post its quarterly earnings results before the market opens on Friday, April 11th. Analysts expect Bank of New York Mellon to post earnings of $1.50 per share and revenue of $4.76 billion for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $1.28 earnings per share. On average, analysts expect Bank of New York Mellon to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $73.36 on Wednesday. The stock’s 50 day moving average is $84.22 and its 200 day moving average is $80.06. The company has a market capitalization of $52.67 billion, a P/E ratio of 12.63, a PEG ratio of 0.97 and a beta of 1.03. Bank of New York Mellon has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.56%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bank of New York Mellon stock. Revolve Wealth Partners LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,858 shares of the bank’s stock, valued at approximately $220,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BK shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $89.86.

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.