Bank of New York Mellon (NYSE:BK) Upgraded at StockNews.com

Bank of New York Mellon (NYSE:BK) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also commented on BK. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. lifted their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Citigroup upped their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Evercore ISI boosted their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Bank of New York Mellon Price Performance

NYSE:BK opened at $78.83 on Friday. The company has a 50 day moving average price of $77.82 and a 200-day moving average price of $69.11. Bank of New York Mellon has a 1-year low of $50.87 and a 1-year high of $82.72. The firm has a market cap of $57.32 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Equities research analysts forecast that Bank of New York Mellon will post 5.84 EPS for the current year.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

A number of large investors have recently made changes to their positions in BK. Studio Investment Management LLC grew its holdings in Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after acquiring an additional 134 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in shares of Bank of New York Mellon by 2.2% during 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 during the last quarter. Avidian Wealth Enterprises LLC grew its stake in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after purchasing an additional 137 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in Bank of New York Mellon by 1.1% in the third 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 during the last quarter. Finally, Sigma Planning Corp raised its stake in Bank of New York Mellon by 2.7% in 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 in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of New York Mellon

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.