The Bank of New York Mellon Co. (NYSE:BK) Receives $81.00 Consensus Target Price from Brokerages

Shares of The Bank of New York Mellon Co. (NYSE:BK) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $82.64.

A number of equities research analysts have recently issued reports on BK shares. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, January 2nd. Evercore ISI upped their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Saturday, December 14th.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently modified their holdings of the business. McClarren Financial Advisors Inc. boosted its stake in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $32,000. Fortitude Family Office LLC grew its holdings in shares of 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 valued at $44,000 after purchasing an additional 346 shares during the last quarter. Grove Bank & Trust increased its position in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon in the 3rd quarter valued at approximately $46,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.1 %

Shares of BK stock opened at $77.88 on Thursday. The firm’s fifty day moving average price is $78.50 and its two-hundred day moving average price is $71.37. Bank of New York Mellon has a 1 year low of $52.21 and a 1 year high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $56.62 billion, a P/E ratio of 16.93, a PEG ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. On average, equities analysts predict that Bank of New York Mellon will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is 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.