Analysts Set The Bank of New York Mellon Co. (NYSE:BK) Target Price at $77.08

Shares of The Bank of New York Mellon Co. (NYSE:BK) have been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $77.23.

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Barclays upped their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Bank of New York Mellon

Several hedge funds have recently made changes to their positions in BK. McClarren Financial Advisors Inc. boosted its holdings in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the period. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $30,000. Clearstead Trust LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $32,000. Family Firm Inc. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $40,000. Finally, Fortitude Family Office LLC lifted its holdings in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $77.60 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. Bank of New York Mellon has a twelve month low of $46.71 and a twelve month high of $80.29. The company has a fifty day moving average of $74.41 and a 200-day moving average of $66.32. The firm has a market capitalization of $56.42 billion, a P/E ratio of 16.87, a P/E/G ratio of 0.89 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, sell-side analysts anticipate that Bank of New York Mellon will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. Bank of New York Mellon’s payout ratio is presently 40.87%.

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.