Bank of New York Mellon Corp. (NYSE:BK) was upgraded by equities research analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, StockRatingsNetwork.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James raised their price target on shares of Bank of New York Mellon Corp. from $33.00 to $35.00 in a research note to investors on Friday, July 19th. They now have an “outperform” rating on the stock. Separately, 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, July 18th. They now have a $31.00 price target on the stock. Finally, 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, July 18th. They now have a $32.00 price target on the stock, up previously from $28.00.
One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $30.69.
Shares of Bank of New York Mellon Corp. (NYSE: BK) opened at 31.76 on Monday. Bank of New York Mellon Corp. has a one year low of $20.42 and a one year high of $32.36. The stock’s 50-day moving average is currently $29.76. The company has a market cap of $36.539 billion and a P/E ratio of 19.68.
Bank of New York Mellon Corp. (NYSE:BK) last issued its quarterly earnings data 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. On average, analysts predict that Bank of New York Mellon Corp. will post $2.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 6th. Investors 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.