Bank of New York Mellon (NYSE:BK) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Bank of New York Mellon (NYSE:BK) issued its quarterly earnings results on Wednesday. The bank reported $1.72 earnings per share 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 NYSE: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. Bank of New York Mellon has a 12 month low of $52.64 and a 12 month high of $82.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50-day moving average of $78.58 and a two-hundred day moving average of $71.94.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BK shares. Citigroup upped their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. UBS Group raised their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.