Bank of New York Mellon (NYSE:BK) Stock Rating Lowered by StockNews.com

Bank of New York Mellon (NYSE:BK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other research firms have also issued reports on BK. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Citigroup increased their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Evercore ISI raised their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.08.

Bank of New York Mellon Trading Down 0.9 %

BK opened at $77.94 on Monday. The business has a 50 day moving average of $73.16 and a 200-day moving average of $65.43. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market cap of $56.67 billion, a PE ratio of 16.94, a PEG ratio of 0.90 and a beta of 1.07. Bank of New York Mellon has a 52 week low of $45.22 and a 52 week high of $80.29.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Equities research analysts predict that Bank of New York Mellon will post 5.82 earnings per share for the current fiscal year.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Institutional Trading of Bank of New York Mellon

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares in the last quarter. Victory Capital Management Inc. increased its stake in Bank of New York Mellon by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock worth $490,640,000 after buying an additional 179,503 shares in the last quarter. Legal & General Group Plc raised its holdings in Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after acquiring an additional 97,286 shares during the period. LSV Asset Management lifted its position in shares of Bank of New York Mellon by 3.9% in the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after acquiring an additional 286,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Bank of New York Mellon by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock worth $434,370,000 after acquiring an additional 454,151 shares during the period. Institutional investors own 85.31% of the company’s stock.

About Bank of New York Mellon

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.