Equities Analysts Offer Predictions for The Bank of New York Mellon Co.’s FY2024 Earnings (NYSE:BK)

The Bank of New York Mellon Co. (NYSE:BK) – Analysts at Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for Bank of New York Mellon in a report issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now anticipates that the bank will post earnings of $5.67 per share for the year, up from their previous forecast of $5.60. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $5.63 per share. Seaport Res Ptn also issued estimates for Bank of New York Mellon’s Q2 2025 earnings at $1.68 EPS, Q3 2025 earnings at $1.65 EPS, Q4 2025 earnings at $1.78 EPS and FY2025 earnings at $6.45 EPS.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the business earned $1.38 earnings per share. Bank of New York Mellon’s quarterly revenue was up 2.1% on a year-over-year basis.

BK has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Morgan Stanley increased their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Evercore ISI increased their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.38.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $71.98 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm’s 50-day moving average price is $67.46 and its two-hundred day moving average price is $61.83. Bank of New York Mellon has a 52-week low of $39.66 and a 52-week high of $73.19. The stock has a market capitalization of $53.83 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.24 and a beta of 1.08.

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently made changes to their positions in the company. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $30,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $32,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $32,000. Finally, Family Firm Inc. acquired a new position in shares of Bank of New York Mellon during the 2nd quarter valued at about $40,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.61%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Bank of New York Mellon Company Profile

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.