Bank of New York Mellon (NYSE:BK) Posts Earnings Results, Beats Estimates By $0.18 EPS

Bank of New York Mellon (NYSE:BK) released its earnings results on Wednesday. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18, RTT News reports. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%.

Bank of New York Mellon Stock Performance

Shares of BK opened at $75.93 on Wednesday. The firm has a market capitalization of $55.21 billion, a PE ratio of 16.51, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $78.58 and a 200 day moving average price of $71.94. Bank of New York Mellon has a 52-week low of $52.64 and a 52-week high of $82.72.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group boosted their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley cut their price target on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Truist Financial started coverage on shares of Bank of New York Mellon in a report on Tuesday, January 7th. They issued a “buy” rating and a $91.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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.