Barclays Capital raised their target price on shares of Bank of New York Mellon Corp. (NYSE:BK) from $30.00 to $34.00 in a research note issued on Thursday, ARN reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s target price suggests a potential upside of 9.96% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. upgraded shares of Bank of New York Mellon Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday. They now have a $34.00 price target on the stock, up previously from $28.00. Separately, analysts at Jefferies Group cut their price target on shares of Bank of New York Mellon Corp. from $32.00 to $31.00 in a research note to investors on Tuesday, July 2nd. They now have a “hold” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Bank of New York Mellon Corp. in a research note to investors on Thursday, June 20th. They now have a $30.50 price target on the stock.
One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Bank of New York Mellon Corp. has a consensus rating of “Hold” and an average price target of $29.90.
Bank of New York Mellon Corp. (NYSE: BK) traded up 1.65% on Thursday, hitting $31.43. Bank of New York Mellon Corp. has a 1-year low of $20.13 and a 1-year high of $31.78. The stock’s 50-day moving average is currently $29.37. The company has a market cap of $36.479 billion and a price-to-earnings ratio of 24.04.
Bank of New York Mellon Corp. (NYSE:BK) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.14. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company posted $0.57 earnings per share. Bank of New York Mellon Corp.’s revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Bank of New York Mellon Corp. will post $2.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 6th. Investors of record on Monday, July 29th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, July 25th.
The Bank of New York Mellon Corporation (NYSE: BK) is a global financial services company.
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