Bank of New York Mellon (NYSE:BK) Price Target Raised to $87.00 at Evercore ISI

Bank of New York Mellon (NYSE:BK) had its price objective hoisted by Evercore ISI from $83.00 to $87.00 in a report released on Tuesday,Benzinga reports. The firm currently has an in-line rating on the bank’s stock.

BK has been the topic of a number of other reports. UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Bank of New York Mellon Stock Down 0.2 %

Shares of BK opened at $83.74 on Tuesday. The company has a market capitalization of $60.12 billion, a PE ratio of 14.41, a PEG ratio of 0.97 and a beta of 1.06. The stock’s 50-day moving average price is $85.33 and its two-hundred day moving average price is $79.90. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. Bank of New York Mellon has a 12 month low of $52.64 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. On average, analysts anticipate that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. raised its holdings in shares of Bank of New York Mellon by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank’s stock worth $525,000 after acquiring an additional 231 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Bank of New York Mellon by 0.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after purchasing an additional 250 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Bank of New York Mellon by 583.0% in the third quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock worth $741,000 after purchasing an additional 8,797 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of Bank of New York Mellon by 81.3% in the third quarter. Ascent Group LLC now owns 12,666 shares of the bank’s stock valued at $910,000 after purchasing an additional 5,680 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $1,786,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.