The Bank of New York Mellon Co. (BK) To Go Ex-Dividend on January 27th

The Bank of New York Mellon Co. (NYSE:BK) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Investors of record on Monday, January 27th will be paid a dividend of 0.47 per share by the bank on Friday, February 7th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, January 27th.

Bank of New York Mellon has increased its dividend by an average of 11.0% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Bank of New York Mellon has a payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of New York Mellon to earn $6.61 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 28.4%.

Bank of New York Mellon Stock Up 0.3 %

Shares of NYSE BK opened at $82.28 on Friday. Bank of New York Mellon has a 12 month low of $52.64 and a 12 month high of $82.72. The firm has a market capitalization of $59.83 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The firm has a fifty day simple moving average of $78.65 and a two-hundred day simple moving average of $72.01. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 EPS. Equities analysts expect that Bank of New York Mellon will post 5.87 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on BK shares. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday. Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group lifted their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group increased 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. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

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.