Bank of New York Mellon (NYSE:BK) PT Raised to $86.00

Bank of New York Mellon (NYSE:BK) had its price objective hoisted by investment analysts at Barclays from $75.00 to $86.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays‘s price target points to a potential upside of 12.80% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. UBS Group raised their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods restated 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 research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

Bank of New York Mellon Stock Down 0.4 %

BK stock opened at $76.24 on Monday. The firm’s 50-day moving average is $68.95 and its two-hundred day moving average is $62.73. The company has a market capitalization of $57.01 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. Bank of New York Mellon has a 52 week low of $39.66 and a 52 week high of $77.67. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were 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 of the company’s stock, valued at $11,150,652.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Entropy Technologies LP acquired a new stake in Bank of New York Mellon during the 1st quarter worth about $1,027,000. QRG Capital Management Inc. lifted its position in shares of Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after purchasing an additional 8,204 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Bank of New York Mellon during the first quarter worth approximately $3,740,000. Bessemer Group Inc. grew its position in Bank of New York Mellon by 128.8% during the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 17,312 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after buying an additional 421,161 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

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.