Research analysts at Raymond James upped their price target on shares of Bank of New York Mellon Corp. (NYSE:BK) from $33.00 to $35.00 in a report released on Friday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 10.17% from the stock’s previous close.
Shares of Bank of New York Mellon Corp. (NYSE: BK) opened at 31.77 on Friday. Bank of New York Mellon Corp. has a 52 week low of $20.13 and a 52 week high of $31.82. The stock’s 50-day moving average is currently $29.45. The company has a market cap of $36.551 billion and a P/E ratio of 19.68.
Bank of New York Mellon Corp. (NYSE:BK) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that Bank of New York Mellon Corp. will post $2.29 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Bank of New York Mellon Corp. in a research note to investors on Thursday. They now have a $31.00 price target on the stock. Separately, analysts at RBC Capital reiterated a “sector perform” rating on shares of Bank of New York Mellon Corp. in a research note to investors on Thursday. They now have a $32.00 price target on the stock, up previously from $28.00. Finally, analysts at Barclays Capital raised their price target on shares of Bank of New York Mellon Corp. from $30.00 to $34.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock.
One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.82.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 6th. Shareholders 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 1.89%. 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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