Somewhat Favorable News Coverage Somewhat Unlikely to Impact Bank of New York Mellon (NYSE:BK) Share Price
Media headlines about Bank of New York Mellon (NYSE:BK) have been trending somewhat positive this week, Accern Sentiment Analysis reports. Accern identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded 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 media sentiment score of 0.17 on Accern’s scale. Accern also gave news articles about the bank an impact score of 46.5887815076383 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- The Bank of New York Mellon Corporation, (NYSE: BK) – Evaluate Stock’s Volatility Before Making Any Investment … – Stock Watch (stocksnewstimes.com)
- Trendy Stock of Friday — The Bank of New York Mellon Corporation (BK) – usstockjournal (usstockjournal.com)
- Momentum Stock in Focus – The Bank of New York Mellon Corporation (BK) – android media cell (androidmediacell.com)
- Volante Technologies and BNY Mellon collaborate on payments technology innovation (finance.yahoo.com)
- Europe’s in His Debt – Barron’s (barrons.com)
A number of research analysts have recently weighed in on BK shares. Barclays restated a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Royal Bank of Canada restated a “hold” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, November 15th. JPMorgan Chase & Co. lowered Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price objective on the stock. in a research note on Friday, January 19th. Credit Suisse Group reissued a “hold” rating and issued a $55.00 price target on shares of Bank of New York Mellon in a research note on Tuesday, October 10th. Finally, Morgan Stanley raised 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. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Bank of New York Mellon currently has an average rating of “Hold” and a consensus target price of $56.50.
Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. sell-side analysts forecast that Bank of New York Mellon will post 4.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, January 29th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 25.74%.
In related news, Chairman Gerald L. Hassell sold 24,280 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total transaction of $1,255,033.20. Following the transaction, the chairman now directly owns 857,899 shares of the company’s stock, valued at $44,344,799.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $54.15, for a total value of $2,065,930.80. Following the transaction, the chief financial officer now directly owns 310,002 shares in the company, valued at $16,786,608.30. The disclosure for this sale can be found here. Insiders have sold 878,452 shares of company stock worth $46,202,327 over the last ninety days. 3.60% of the stock is owned by 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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