What is Zacks Research’s Forecast for BK Q3 Earnings?

The Bank of New York Mellon Corporation (NYSE:BK) – Zacks Research reduced their Q3 2027 earnings estimates for shares of Bank of New York Mellon in a research report issued to clients and investors on Thursday, November 6th. Zacks Research analyst Team now expects that the bank will post earnings of $2.13 per share for the quarter, down from their previous forecast of $2.16. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $6.96 per share.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%.

BK has been the topic of a number of other research reports. Evercore ISI lifted their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. TD Cowen raised their price objective on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Trading Up 1.1%

BK opened at $109.66 on Monday. The stock has a market capitalization of $76.47 billion, a PE ratio of 15.82, a P/E/G ratio of 0.98 and a beta of 1.13. Bank of New York Mellon has a one year low of $70.46 and a one year high of $110.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The business’s 50 day moving average price is $107.06 and its 200 day moving average price is $98.13.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is 30.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Bank of New York Mellon during the 2nd quarter worth about $1,081,847,000. Nuveen LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth about $773,627,000. Qube Research & Technologies Ltd acquired a new position in shares of Bank of New York Mellon during the second quarter worth about $135,728,000. AustralianSuper Pty Ltd purchased a new stake in shares of Bank of New York Mellon during the first quarter worth approximately $92,502,000. Finally, Goldman Sachs Group Inc. raised its holdings in Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after acquiring an additional 1,052,145 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Company Profile

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.