FY2024 Earnings Estimate for The Bank of New York Mellon Co. Issued By Seaport Res Ptn (NYSE:BK)

The Bank of New York Mellon Co. (NYSE:BK) – Analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of Bank of New York Mellon in a research report issued to clients and investors 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 prior 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.

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

Bank of New York Mellon Stock Performance

Shares of BK opened at $70.82 on Friday. The stock has a market cap of $52.96 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.24 and a beta of 1.08. Bank of New York Mellon has a 52 week low of $39.66 and a 52 week high of $73.19. 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 business’s 50 day moving average price is $67.33 and its 200-day moving average price is $61.66.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.65%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bank of New York Mellon

Several hedge funds and other institutional investors have recently modified their holdings of BK. Park Avenue Securities LLC increased its stake in Bank of New York Mellon by 74.9% in the 3rd quarter. Park Avenue Securities LLC now owns 28,540 shares of the bank’s stock worth $2,051,000 after buying an additional 12,218 shares in the last quarter. Trinity Financial Advisors LLC purchased a new stake in Bank of New York Mellon in the 3rd quarter worth $228,000. Czech National Bank increased its stake in Bank of New York Mellon by 5.5% in the 3rd quarter. Czech National Bank now owns 150,329 shares of the bank’s stock worth $10,803,000 after buying an additional 7,825 shares in the last quarter. M&R Capital Management Inc. increased its stake in Bank of New York Mellon by 8.6% in the 3rd quarter. M&R Capital Management Inc. now owns 16,352 shares of the bank’s stock worth $1,175,000 after buying an additional 1,291 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in Bank of New York Mellon by 37.7% in the 2nd quarter. Centaurus Financial Inc. now owns 6,580 shares of the bank’s stock worth $394,000 after buying an additional 1,803 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other 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.