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

Bank of New York Mellon (NYSE:BK) is expected to post its quarterly earnings data 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 interested in registering for the company’s conference call can do so using this link.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The business 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 company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $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 Trading Up 8.0 %

NYSE BK opened at $79.35 on Thursday. Bank of New York Mellon has a 52 week low of $52.64 and a 52 week high of $90.34. The company has a 50 day moving average price of $83.95 and a 200 day moving average price of $80.10. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $56.97 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley dropped their target price on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Truist Financial cut their target price on Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, UBS Group lifted 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.86.

Hedge Funds Weigh In On Bank of New York Mellon

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

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.