What is Seaport Res Ptn’s Forecast for BK FY2024 Earnings?

The Bank of New York Mellon Co. (NYSE:BK) – Analysts at Seaport Res Ptn upped their FY2024 EPS estimates for Bank of New York Mellon in a research report issued on Tuesday, January 7th. Seaport Res Ptn analyst J. Mitchell now forecasts that the bank will earn $5.88 per share for the year, up from their previous forecast of $5.82. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $5.84 per share. Seaport Res Ptn also issued estimates for Bank of New York Mellon’s Q4 2024 earnings at $1.57 EPS, Q1 2025 earnings at $1.41 EPS, Q2 2025 earnings at $1.75 EPS, Q3 2025 earnings at $1.69 EPS, Q4 2025 earnings at $1.81 EPS, FY2025 earnings at $6.65 EPS and FY2026 earnings at $7.60 EPS.

A number of other analysts have also issued reports on BK. JPMorgan Chase & Co. boosted their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley lowered their price target on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Saturday, December 14th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Bank of New York Mellon Trading Down 0.1 %

Shares of BK stock opened at $77.88 on Friday. Bank of New York Mellon has a 1 year low of $52.21 and a 1 year high of $82.72. The company’s fifty day simple moving average is $78.55 and its two-hundred day simple moving average is $71.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $56.62 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.91 and a beta of 1.08.

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

Insider Activity at Bank of New York Mellon

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

Institutional Investors Weigh In On Bank of New York Mellon

A number of hedge funds have recently made changes to their positions in BK. Private Advisor Group LLC boosted its position in Bank of New York Mellon by 1.6% during the second quarter. Private Advisor Group LLC now owns 51,584 shares of the bank’s stock valued at $3,089,000 after buying an additional 814 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Bank of New York Mellon by 8.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 88,302 shares of the bank’s stock valued at $5,288,000 after acquiring an additional 6,755 shares during the period. Coldstream Capital Management Inc. grew its position in Bank of New York Mellon by 2.8% during the 2nd quarter. Coldstream Capital Management Inc. now owns 11,795 shares of the bank’s stock worth $706,000 after acquiring an additional 325 shares during the last quarter. AGF Management Ltd. increased its stake in Bank of New York Mellon by 32.7% in the 2nd quarter. AGF Management Ltd. now owns 38,210 shares of the bank’s stock worth $2,288,000 after purchasing an additional 9,425 shares during the period. Finally, Achmea Investment Management B.V. lifted its position in Bank of New York Mellon by 124.6% in the second quarter. Achmea Investment Management B.V. now owns 178,405 shares of the bank’s stock valued at $10,684,000 after purchasing an additional 98,984 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

About Bank of New York Mellon

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.