Bank of New York Mellon (NYSE:BK) Stock Rating Lowered by StockNews.com

Bank of New York Mellon (NYSE:BK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

BK has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. UBS Group boosted their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays lifted their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $79.77.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $80.51 on Friday. Bank of New York Mellon has a fifty-two week low of $47.60 and a fifty-two week high of $82.72. The stock has a market cap of $58.54 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.91 and a beta of 1.07. The stock’s 50 day simple moving average is $76.97 and its two-hundred day simple moving average is $68.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, analysts expect that Bank of New York Mellon will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 value of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Bank of New York Mellon

Hedge funds and other institutional investors have recently modified their holdings of the company. Studio Investment Management LLC increased its stake in Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares in the last quarter. Stanley Laman Group Ltd. lifted its holdings in Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after purchasing an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after purchasing an additional 137 shares during the period. Frank Rimerman Advisors LLC grew its holdings in Bank of New York Mellon by 1.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after buying an additional 142 shares in the last quarter. Finally, Sigma Planning Corp raised its position in shares of Bank of New York Mellon by 2.7% during the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after buying an additional 143 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other 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.