Bank of New York Mellon (NYSE:BK) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Bank of New York Mellon (NYSE:BK) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $82.00 to $85.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

BK has been the topic of several other reports. The Goldman Sachs Group upped their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays upped their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Citigroup boosted 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. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Evercore ISI boosted their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.08.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $78.71 on Monday. The stock has a market cap of $57.23 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock’s 50-day moving average is $73.16 and its 200-day moving average is $65.43. Bank of New York Mellon has a 1-year low of $45.22 and a 1-year high of $80.29.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 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 business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Equities research analysts anticipate that Bank of New York Mellon will post 5.82 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. Shareholders of record on Monday, October 21st were issued 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 2.39%. Bank of New York Mellon’s payout ratio is currently 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was 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 approximately $5,754,079.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

Institutional investors and hedge funds have recently bought and sold shares of the stock. McClarren Financial Advisors Inc. grew its position 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 worth $29,000 after acquiring an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $32,000. Fortitude Family Office LLC grew its position in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $46,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Company Profile

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.