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

The Bank of New York Mellon Co. (NYSE:BK) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $77.23.

A number of equities research analysts recently commented on the company. Barclays lifted their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Citigroup boosted their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group increased their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Evercore ISI upped their target price on 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.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s 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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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 directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors have recently bought and sold shares of BK. Entropy Technologies LP purchased a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $1,027,000. United Advisor Group LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $595,000. Bessemer Group Inc. raised its holdings in Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after buying an additional 17,312 shares during the period. Ameriprise Financial Inc. increased its holdings in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after purchasing an additional 421,161 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.9 %

NYSE:BK opened at $78.29 on Wednesday. The company’s 50 day moving average is $73.75 and its two-hundred day moving average is $65.74. The company has a market cap of $56.92 billion, a PE ratio of 16.98, a P/E/G ratio of 0.89 and a beta of 1.07. Bank of New York Mellon has a twelve month low of $46.04 and a twelve month high of $80.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

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 the consensus estimate 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 firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. 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 business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.40%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s 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.