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

The Bank of New York Mellon Co. (NYSE:BK) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $77.23.

BK has been the topic of several recent analyst reports. Citigroup lifted their price target on 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. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Evercore ISI boosted their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. UBS Group boosted their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

Insider Activity

In other news, VP Hanneke Smits sold 16,475 shares of the business’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 transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. M&T Bank Corp increased its position in Bank of New York Mellon by 293.1% in the 3rd quarter. M&T Bank Corp now owns 399,130 shares of the bank’s stock valued at $28,681,000 after buying an additional 297,603 shares in the last quarter. Continuum Advisory LLC increased its position in Bank of New York Mellon by 93.2% in the 3rd quarter. Continuum Advisory LLC now owns 2,349 shares of the bank’s stock valued at $182,000 after buying an additional 1,133 shares in the last quarter. Drucker Wealth 3.0 LLC increased its position in Bank of New York Mellon by 3.8% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 10,838 shares of the bank’s stock valued at $779,000 after buying an additional 396 shares in the last quarter. SGL Investment Advisors Inc. bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $777,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Bank of New York Mellon by 3.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,644 shares of the bank’s stock valued at $16,358,000 after buying an additional 7,840 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.9 %

Shares of BK opened at $78.29 on Wednesday. Bank of New York Mellon has a 52-week low of $46.04 and a 52-week high of $80.29. The business’s fifty day moving average is $73.99 and its 200-day moving average is $66.02. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.89 and a beta of 1.07.

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 (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 company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Equities analysts anticipate that Bank of New York Mellon will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued 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 presently 40.87%.

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.