Bank of New York Mellon (NYSE:BK) Price Target Increased to $80.00 by Analysts at The Goldman Sachs Group

Bank of New York Mellon (NYSE:BK) had its price target lifted by The Goldman Sachs Group from $74.00 to $80.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 10.85% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays raised their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Citigroup lifted their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.88.

Bank of New York Mellon Stock Up 0.5 %

Shares of NYSE BK opened at $72.17 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $53.26 billion, a P/E ratio of 16.71, a PEG ratio of 1.24 and a beta of 1.08. Bank of New York Mellon has a 1 year low of $39.66 and a 1 year high of $73.19. The firm has a 50-day simple moving average of $66.24 and a two-hundred day simple moving average of $60.95.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. Research analysts anticipate that Bank of New York Mellon will post 5.63 earnings per share for the current year.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bank of New York Mellon

Large investors have recently made changes to their positions in the business. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon during the first quarter worth $32,000. Able Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $32,000. Finally, Family Firm Inc. acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $40,000. 85.31% of the stock is owned by institutional investors and hedge funds.

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.