Citigroup Increases Bank of New York Mellon (NYSE:BK) Price Target to $85.00

Bank of New York Mellon (NYSE:BK) had its price target hoisted by stock analysts at Citigroup from $82.00 to $85.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Citigroup’s target price would suggest a potential downside of 0.25% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Truist Financial boosted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.71.

Bank of New York Mellon Stock Up 0.6 %

NYSE BK opened at $85.21 on Monday. The business has a fifty day moving average price of $85.24 and a two-hundred day moving average price of $79.35. The stock has a market capitalization of $61.18 billion, a PE ratio of 14.67, a PEG ratio of 0.97 and a beta of 1.06. Bank of New York Mellon has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Equities analysts expect that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of New York Mellon

Several large investors have recently bought and sold shares of the stock. Parvin Asset Management LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth about $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. REAP Financial Group LLC lifted its position in shares of Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after buying an additional 218 shares during the last quarter. Transce3nd LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth $33,000. Finally, South Plains Financial Inc. purchased a new stake in Bank of New York Mellon in the 4th quarter worth about $34,000. 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.