Skip to Content

The Bank of New York Mellon Co. (NYSE:BK) is expected to earn $4.49 per share in fiscal year 2022.

The Bank of New York Mellon Co. (NYSE:BK) is expected to earn $4.49 per share in fiscal year 2022.

The Mellon Bank of New York, Inc. is listed under the NYSE: BK. The analysts at Seaport Research Partners raised their projections for Bank of New York Mellon’s earnings per share for the fiscal year 2022 in a research note published on Thursday, January 5. J. Mitchell, an analyst for Seaport Res Ptn, has raised his earlier projection of the bank’s profits per share to $4.49, up from $4.38. This represents a positive revision. At this point, it is expected that the Bank of New York Mellon will generate earnings of $4.40 per share for the entire year. According to the forecasts provided by Seaport Research Ptn., Bank of New York Mellon will rake in a profit of $1.27 per share during the final three months of the fiscal year 2022.
BK has been the focus of a significant number of additional research-based investigations.
Wolfe Research upgraded shares of Bank of New York Mellon from a “peer perform” rating to an “outperform” rating in a research report published on Wednesday, January 4. The report was about the company’s financial performance. In addition, they established a price target of $60,000 for the company. Goldman Sachs Group upgraded shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a price objective of $59.00 for the company in a research report released on Wednesday, January 4. The report was published on the Internet. Deutsche Bank Aktiengesellschaft raised its price objective on shares of Bank of New York Mellon from $43.00 to $44.00 in a research note that was published on November 15. In addition, they changed the recommendation they had previously given for the stock from “hold” to “buy.” The change in Citigroup’s price objective for Bank of New York Mellon shares was announced in a research note published on Friday, December 9. The price objective increased from $50.00 to $55.00.
Last but not least, on December 6, Morgan Stanley downgraded the stock of Bank of New York Mellon, moving it from “equal weight” to “underweight.” This was not the only stock that received this treatment. Five analysts have provided a recommendation to buy the stock, seven have provided a recommendation to hold onto the stock, and one has provided a recommendation to sell the stock. According to information provided by Bloomberg.com, the consensus price target for the company is currently set at $52.73, and the average recommendation is “Hold.”
BK opened its trading session on Monday with a price of $47.95. A few values can be used in this calculation, including a debt-to-equity ratio of 0.81, a current ratio of 0.66, and a quick ratio of 0.66. The company’s stock carries a price-earnings ratio of 14.57, a price-to-growth ratio of 1.79, and a beta value of 1.08. The market capitalization of the company’s stock is $38.76 billion. The lowest price the Bank of New York Mellon has been at in the past year is $36.22, and the company’s all-time high price is $64.63. Currently, one share of the company’s stock can be purchased for $44.51, which is higher than its 50-day moving average but lower than its 200-day moving average price of $42.92.
On Monday, October 17, the financial results for Bank of New York Mellon (NYSE: BK) were made available to the general public. The earnings per share (EPS) for the quarter came in at $1.21, which is $0.11 higher than the average projection made by industry professionals anticipating earnings of $1.10. The revenue for the quarter came in at $4.28 billion, which is higher than the forecasted figure of $4.20 billion that market experts provided. The performance of the Bank of New York Mellon was quite satisfactory, as evidenced by its net margin of 16.07% and its return on equity of 10.07%, respectively. Compared to the same period the previous year, the third quarter saw a revenue increase of 6.0% for the company. Compared to the previous year’s results for the same period, the company posted a profit of $1.04 per share.
In addition, the company recently announced and paid a quarterly dividend, which was paid out on November 10 of this year. The dividend was declared and paid out. On Thursday, October 27, dividend payments were made to shareholders whose information was already on record for $0.37 each. The results of this calculation are that a dividend yield of 3.09% and an annual dividend payment of $1.48 will be obtained. On Wednesday, October 26, dividends were made to shareholders for the previous month’s earnings. At the moment, the dividend payout ratio for the Bank of New York Mellon is sitting at 44.98%.
According to additional news regarding Bank of New York Mellon, Executive Vice President J. Kevin Mccarthy sold 20,000 shares of the company’s stock on Wednesday, October 19. This transaction was reported in other news regarding the bank. It was determined that a total of $787,400.00 worth of the company’s stock was traded, with the average price per share being $39.37. Because of the transaction, the executive vice president now owns 108,686 shares of the company, which have a value of $4,278,967.82 per share at the current market price. Access to the legal file that details the transaction’s disclosure can be gained through the Securities and Exchange Commission’s (SEC) website. This file can be found on the website. The current percentage of the company’s stock owned by company insiders is 0.08%.

Tags

Leave a comment

Your email address will not be published. Required fields are marked *