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

The Bank of New York Mellon Co. (NYSE:BK) has earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $60.17.

A number of equities analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Bank of America raised their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Citigroup raised their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Evercore ISI raised their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, UBS Group raised their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, 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 accessible through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock valued at $5,459,897 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BK. CX Institutional grew its holdings in Bank of New York Mellon by 4.5% in the 3rd quarter. CX Institutional now owns 7,795 shares of the bank’s stock valued at $332,000 after buying an additional 339 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $532,000. Czech National Bank grew its holdings in shares of Bank of New York Mellon by 60.1% during the 3rd quarter. Czech National Bank now owns 136,115 shares of the bank’s stock worth $5,805,000 after purchasing an additional 51,104 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Bank of New York Mellon by 0.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 221,743 shares of the bank’s stock worth $9,457,000 after purchasing an additional 1,522 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Bank of New York Mellon by 16.5% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 9,580 shares of the bank’s stock worth $409,000 after purchasing an additional 1,355 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.0 %

NYSE:BK opened at $57.34 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. Bank of New York Mellon has a 1-year low of $39.65 and a 1-year high of $58.28. The firm has a market capitalization of $43.17 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The stock has a fifty day simple moving average of $56.05 and a 200 day simple moving average of $52.02.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the company posted $1.13 EPS. Bank of New York Mellon’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Bank of New York Mellon will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

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.