Bank of New York Mellon (NYSE:BK) PT Raised to $66.00 at Deutsche Bank Aktiengesellschaft

Bank of New York Mellon (NYSE:BK) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $63.00 to $66.00 in a research note published on Thursday, Benzinga reports. They currently have a hold rating on the bank’s stock.

A number of other analysts have also issued reports on BK. Barclays boosted their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the company an overweight rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an equal weight rating in a research note on Tuesday, July 30th. Bank of America raised their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Evercore ISI upped their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an in-line rating in a research note on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $66.14.

Bank of New York Mellon Stock Up 1.0 %

Shares of NYSE BK opened at $65.61 on Thursday. The firm has a market cap of $49.06 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. Bank of New York Mellon has a 52-week low of $39.66 and a 52-week high of $65.90. The company’s 50-day simple moving average is $61.82 and its 200-day simple moving average is $58.48. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. Equities analysts predict that Bank of New York Mellon will post 5.6 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Activity at Bank of New York Mellon

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

Hedge Funds Weigh In On Bank of New York Mellon

A number of institutional investors have recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $878,000. NewEdge Advisors LLC increased its stake in shares of Bank of New York Mellon by 66.8% in the second quarter. NewEdge Advisors LLC now owns 28,596 shares of the bank’s stock worth $1,713,000 after buying an additional 11,457 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Bank of New York Mellon by 2.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 37,093 shares of the bank’s stock valued at $2,221,000 after acquiring an additional 1,023 shares in the last quarter. Creative Planning grew its holdings in Bank of New York Mellon by 3.1% during the 2nd quarter. Creative Planning now owns 236,238 shares of the bank’s stock worth $14,148,000 after acquiring an additional 7,058 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in shares of Bank of New York Mellon by 11.6% in the 2nd quarter. SkyView Investment Advisors LLC now owns 9,469 shares of the bank’s stock valued at $567,000 after purchasing an additional 983 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.