Bank of New York Mellon (NYSE:BK) Price Target Raised to $85.00 at Deutsche Bank Aktiengesellschaft

Bank of New York Mellon (NYSE:BK) had its price objective increased by Deutsche Bank Aktiengesellschaft from $82.00 to $85.00 in a research report sent to investors on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the bank’s stock.

Several other equities analysts have also commented on BK. Citigroup increased their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Evercore ISI increased their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, Wells Fargo & Company boosted their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.08.

Bank of New York Mellon Trading Down 0.0 %

Shares of BK opened at $77.58 on Monday. 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 50-day moving average price of $73.56 and a 200 day moving average price of $65.66. Bank of New York Mellon has a 12-month low of $46.04 and a 12-month high of $80.29. The firm has a market capitalization of $56.41 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 announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) 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 business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Sell-side analysts forecast that Bank of New York Mellon will post 5.82 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend 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 40.87%.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was 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 disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BK. Empowered Funds LLC increased its position in Bank of New York Mellon by 28.1% during the first quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock worth $612,000 after buying an additional 2,328 shares during the period. Oppenheimer & Co. Inc. raised its position in Bank of New York Mellon by 10.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 29,996 shares of the bank’s stock valued at $1,728,000 after purchasing an additional 2,903 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Bank of New York Mellon by 13.2% during the 1st quarter. Atomi Financial Group Inc. now owns 5,372 shares of the bank’s stock worth $310,000 after purchasing an additional 625 shares during the period. Concurrent Investment Advisors LLC increased its stake in Bank of New York Mellon by 7.9% in the first quarter. Concurrent Investment Advisors LLC now owns 7,469 shares of the bank’s stock valued at $430,000 after purchasing an additional 548 shares during the period. Finally, Williams Jones Wealth Management LLC. raised its holdings in shares of Bank of New York Mellon by 2.1% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,578 shares of the bank’s stock valued at $610,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds 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.