Analysts Set The Bank of New York Mellon Co. (NYSE:BK) Target Price at $60.17

Shares of The Bank of New York Mellon Co. (NYSE:BKGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $60.17.

A number of analysts recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Morgan Stanley increased their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Evercore ISI increased their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Jefferies Financial Group increased their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Bank of America increased their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th.

Read Our Latest Stock Report on Bank of New York Mellon

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Bank of New York Mellon by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after acquiring an additional 4,293,751 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Bank of New York Mellon by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock worth $1,030,254,000 after acquiring an additional 144,162 shares during the last quarter. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $813,701,000. Northern Trust Corp raised its holdings in shares of Bank of New York Mellon by 8.2% in the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after acquiring an additional 715,421 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of Bank of New York Mellon by 1.0% in the 4th quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock worth $383,723,000 after acquiring an additional 72,880 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.0 %

Shares of BK opened at $58.82 on Friday. The firm has a 50 day simple moving average of $58.03 and a two-hundred day simple moving average of $55.67. The company has a market cap of $43.99 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. Bank of New York Mellon has a one year low of $39.66 and a one year high of $60.87.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Research analysts forecast that Bank of New York Mellon will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Bank of New York Mellon Company Profile

(Get Free Report

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.

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Analyst Recommendations for Bank of New York Mellon (NYSE:BK)

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