News coverage about Bank of New York Mellon (NYSE:BK) has trended somewhat positive this week, according to Accern. Accern scores the sentiment of media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Bank of New York Mellon earned a coverage optimism score of 0.16 on Accern’s scale. Accern also gave headlines about the bank an impact score of 46.4997211521448 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment’s analysis:
BK stock traded up $0.18 during trading on Wednesday, reaching $54.61. 4,947,087 shares of the company were exchanged, compared to its average volume of 5,008,494. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. The company has a market cap of $54,869.76, a price-to-earnings ratio of 14.64, a PEG ratio of 1.74 and a beta of 1.16. Bank of New York Mellon has a twelve month low of $45.12 and a twelve month high of $58.99.
Bank of New York Mellon (NYSE:BK) last posted its earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.91. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. Bank of New York Mellon’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. research analysts anticipate that Bank of New York Mellon will post 4.04 earnings per share for the current year.
A number of analysts recently commented on the stock. ValuEngine upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Morgan Stanley upgraded shares of Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Friday, January 19th. Goldman Sachs cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Monday, March 12th. They noted that the move was a valuation call. Keefe, Bruyette & Woods set a $57.00 price target on shares of Bank of New York Mellon and gave the company a “hold” rating in a research note on Thursday, March 8th. Finally, Barclays restated a “buy” rating on shares of Bank of New York Mellon in a research note on Sunday, January 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Bank of New York Mellon presently has an average rating of “Hold” and an average target price of $58.03.
In other news, insider Bridget E. Engle sold 38,928 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $56.62, for a total value of $2,204,103.36. Following the transaction, the insider now owns 68,046 shares of the company’s stock, valued at approximately $3,852,764.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Trian Fund Management, L.P. purchased 360,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was bought at an average cost of $56.67 per share, for a total transaction of $20,401,200.00. The disclosure for this purchase can be found here. 1.76% of the stock is owned by corporate insiders.
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About Bank of New York Mellon
The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.
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