Market Update (NYSE:BK): BNY Mellon Wins EMEA Finance 2015 Achievement Award for ‘Best Depositary Receipt Bank’

[PR Newswire] – NEW YORK and LONDON, May 4, 2016 /PRNewswire/ — BNY Mellon, a global leader in investment management and investment services, has captured emeaFinance Magazine’s 2015 Achievement Award for Best Depositary … Read more on this. The Bank of New York Mellon Corporation (BK) , currently valued at $42.32B, started the session at $39.39. A quick look at the market, the company’s stock traded between $39.07 and $39.77 and has traded between $32.20 and $45.45 over the past year. BK shares are currently priced at 12.88x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.40x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.68 per share annually in dividends, yielding 1.69%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $0.75 per share, which would be $0.02 worse than the year-ago quarter and a $0.02 sequential increase. What we find to be interesting is that the full-year EPS estimate of $3.09 is a $0.24 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.81 Billion. If reported, that would be a 1.04% decrease over the year-ago quarter. Recently, JP Morgan upgraded BK from Neutral to Overweight (Jan 7, 2016). Previously, BofA/Merrill upgraded BK from Neutral to Buy. Given all the information above, we should disclose to readers that the average price target is $44.61, which is 13.25% above than it opened this morning. See more in (NYSE:BK) Similar Articles: Stock Update (NYSE:BK): BNY Mellon Selected as Depositary Bank by Raia Drogasil for New ADR Program Company Update: The Bank of New York Mellon Corporation (NYSE:BK) – BNY Mellon Selected by Anglo American plc for its Sponsored Depositary Receipt Program Company Update: The Bank of New York Mellon Corporation (NYSE:BK) – BNY Mellon’s Pershing Prime Services Unit Named Best Prime Broker–Innovation by HFM US Services Award for Second Consecutive Year
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