Bank of New York Mellon (NYSE:BK) Stock Rating Upgraded by StockNews.com

Bank of New York Mellon (NYSE:BK) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

BK has been the topic of several other reports. UBS Group raised their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Evercore ISI increased their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Morgan Stanley raised shares of Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $82.00 to $94.00 in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.00.

Bank of New York Mellon Stock Down 0.9 %

Bank of New York Mellon stock opened at $78.83 on Friday. Bank of New York Mellon has a twelve month low of $50.87 and a twelve month high of $82.72. The firm has a market cap of $57.32 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.91 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The business has a fifty day moving average of $77.68 and a two-hundred day moving average of $68.82.

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

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a 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 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 $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

A number of hedge funds and other institutional investors have recently modified their holdings of BK. McClarren Financial Advisors Inc. increased its stake in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the period. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $32,000. Family Firm Inc. bought a new stake in Bank of New York Mellon during the second quarter worth approximately $40,000. Fortitude Family Office LLC lifted its position in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the period. Finally, Grove Bank & Trust boosted its stake 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 valued at $46,000 after purchasing an additional 144 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

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.