Bank of America – Analysts Expect The Bank of New York Mellon Co. (NYSE:BK) to Announce $0.86 EPS
Brokerages forecast that The Bank of New York Mellon Co. (NYSE:BK) will post earnings per share of $0.86 for the current quarter, according to Zacks. Two analysts have issued estimates for The Bank of New York Mellon’s earnings. The highest EPS estimate is $0.94 and the lowest is $0.82. The Bank of New York Mellon posted earnings per share of $1.05 during the same quarter last year, which indicates a negative year over year growth rate of 18.1%. The company is expected to report its next earnings report on Thursday, April 15th.
According to Zacks, analysts expect that The Bank of New York Mellon will report full year earnings of $3.99 per share for the current financial year, with EPS estimates ranging from $3.82 to $4.10. For the next fiscal year, analysts expect that the firm will post earnings of $4.60 per share, with EPS estimates ranging from $4.22 to $4.91. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow The Bank of New York Mellon.
The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, January 19th. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.05. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.84 billion. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The company’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS.
A number of analysts have recently weighed in on the stock. Bank of America downgraded shares of The Bank of New York Mellon from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $42.00 to $39.00 in a research report on Friday, November 20th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of The Bank of New York Mellon from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $57.00 in a research report on Monday, January 11th. TheStreet raised shares of The Bank of New York Mellon from a “c+” rating to a “b-” rating in a research report on Tuesday, December 1st. Piper Sandler increased their price objective on shares of The Bank of New York Mellon from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, January 11th. Finally, UBS Group cut their price objective on shares of The Bank of New York Mellon from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The Bank of New York Mellon presently has an average rating of “Hold” and a consensus price target of $47.03.
NYSE:BK opened at $39.83 on Monday. The firm’s 50-day moving average price is $42.52 and its 200-day moving average price is $38.31. The company has a market capitalization of $35.29 billion, a PE ratio of 8.73, a P/E/G ratio of 1.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.65 and a quick ratio of 0.65. The Bank of New York Mellon has a 1-year low of $26.40 and a 1-year high of $47.63.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Shareholders of record on Monday, February 1st will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, January 29th. The Bank of New York Mellon’s dividend payout ratio is currently 30.85%.
Several large investors have recently modified their holdings of BK. JJJ Advisors Inc. lifted its stake in shares of The Bank of New York Mellon by 1,936.7% in the 4th quarter. JJJ Advisors Inc. now owns 611 shares of the bank’s stock worth $26,000 after purchasing an additional 581 shares during the period. Wolff Wiese Magana LLC bought a new position in shares of The Bank of New York Mellon in the 4th quarter worth approximately $27,000. Lenox Wealth Advisors LLC bought a new position in shares of The Bank of New York Mellon in the 4th quarter worth approximately $36,000. ELM Advisors LLC purchased a new stake in The Bank of New York Mellon in the 4th quarter worth approximately $41,000. Finally, Perigon Wealth Management LLC purchased a new stake in The Bank of New York Mellon in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 82.27% of the company’s stock.
The Bank of New York Mellon Company Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. The Investment Service segment offers custody, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, trading, investment, wealth and retirement solutions, technology and enterprise data management, corporate trust, depositary receipts, payments, receivables processing and payables management, trade finance and processing, and collateral management services.
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Bank of America – Analysts Expect The Bank of New York Mellon Co. (NYSE:BK) to Announce $0.86 EPS
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