Bank of New York Mellon (NYSE:BK) PT Raised to $79.00 at Wells Fargo & Company

Bank of New York Mellon (NYSE:BK) had its target price increased by investment analysts at Wells Fargo & Company from $69.00 to $79.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 3.62% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Citigroup raised their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Morgan Stanley lifted their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Barclays raised their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.69.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $76.24 on Monday. The firm has a market capitalization of $57.01 billion, a PE ratio of 17.65, a P/E/G ratio of 1.16 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $68.95 and a two-hundred day moving average price of $62.73. Bank of New York Mellon has a twelve month low of $39.66 and a twelve month high of $77.67.

Insider Activity

In related news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in shares of Bank of New York Mellon during the second quarter worth approximately $30,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Bank of New York Mellon during the 1st quarter valued at $32,000. Clearstead Trust LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth $32,000. Family Firm Inc. bought a new stake in Bank of New York Mellon in the second quarter worth $40,000. Finally, Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.