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

The Bank of New York Mellon Co. (NYSE:BK) has earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $80.77.

BK has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Citigroup upped their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Saturday, December 14th. Morgan Stanley lowered their target price on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday. Finally, UBS Group raised their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th.

Bank of New York Mellon Stock Down 0.6 %

NYSE BK opened at $76.93 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. Bank of New York Mellon has a 52 week low of $51.86 and a 52 week high of $82.72. The firm has a market capitalization of $55.93 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.91 and a beta of 1.08. The company has a fifty day moving average of $78.41 and a two-hundred day moving average of $70.88.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 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 firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. On average, analysts predict that Bank of New York Mellon will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.44%. Bank of New York Mellon’s payout ratio is presently 40.87%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were 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. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

Several hedge funds have recently modified their holdings of BK. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at about $32,000. Fortitude Family Office LLC boosted its holdings 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 acquiring an additional 346 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon during the third quarter valued at about $46,000. 85.31% of the stock is owned by hedge funds and other 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.