Headlines about The Bank of New York Mellon (NYSE:BK) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. The Bank of New York Mellon earned a news impact score of 0.14 on Accern’s scale. Accern also gave media headlines about the bank an impact score of 46.795886460219 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern’s analysis:
- BNY Mellon Asset Strategy View® Finds Larger Endowments and Foundations that Invest in Alternative Investments Outperform Smaller Institutions Focused on Traditional Equity, Fixed Income (finance.yahoo.com)
- Why is an Earnings Beat Likely for BNY Mellon (BK) in Q1? (finance.yahoo.com)
- The Bank of New York Mellon (BK) Expected to Post Earnings of $0.97 Per Share (americanbankingnews.com)
- Short Interest in The Bank of New York Mellon (BK) Drops By 22.3% (americanbankingnews.com)
- The Bank of New York Mellon (BK) Rating Lowered to Hold at BidaskClub (americanbankingnews.com)
Several research firms have recently issued reports on BK. Morgan Stanley upgraded shares of The Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and set a $60.00 price objective on the stock in a report on Friday, January 19th. Barclays boosted their price objective on shares of The Bank of New York Mellon from $55.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of The Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, December 20th. JPMorgan Chase cut shares of The Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 target price on the stock. in a research note on Friday, January 19th. Finally, Deutsche Bank upped their target price on shares of The Bank of New York Mellon from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The Bank of New York Mellon has an average rating of “Hold” and a consensus price target of $57.53.
The Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. The Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The Bank of New York Mellon’s revenue was down 1.6% compared to the same quarter last year. sell-side analysts expect that The Bank of New York Mellon will post 4.03 EPS for the current fiscal year.
In other news, Director Trian Fund Management, L.P. bought 360,000 shares of the stock in a transaction on Friday, March 9th. The stock was purchased at an average price of $56.67 per share, with a total value of $20,401,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bridget E. Engle sold 38,928 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $56.62, for a total transaction of $2,204,103.36. Following the sale, the insider now directly owns 68,046 shares of the company’s stock, valued at approximately $3,852,764.52. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by corporate insiders.
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About The Bank of New York Mellon
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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