Bank of New York Mellon (NYSE:BK) Price Target Raised to $104.00 at Barclays

Bank of New York Mellon (NYSE:BK) had its price target lifted by stock analysts at Barclays from $102.00 to $104.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Barclays‘s target price would indicate a potential upside of 27.65% from the stock’s current price.

BK has been the topic of several other research reports. Citigroup lifted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

Bank of New York Mellon Stock Down 0.7 %

Shares of NYSE:BK traded down $0.57 during trading hours on Thursday, hitting $81.47. The company’s stock had a trading volume of 2,068,587 shares, compared to its average volume of 4,132,274. The firm’s fifty day moving average price is $78.58 and its 200 day moving average price is $71.94. Bank of New York Mellon has a 52 week low of $52.64 and a 52 week high of $82.72. The company has a market capitalization of $59.24 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.76 and a beta of 1.08. 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 data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts expect that Bank of New York Mellon will post 5.87 EPS for the current year.

Hedge Funds Weigh In On Bank of New York Mellon

A number of institutional investors have recently modified their holdings of the stock. Studio Investment Management LLC lifted its stake in shares of 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 valued at $477,000 after purchasing an additional 134 shares during the period. Stanley Laman Group Ltd. raised its position in shares of Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after acquiring an additional 135 shares during the period. Grove Bank & Trust boosted its stake in shares of Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after acquiring an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after acquiring an additional 137 shares during the period. Finally, Frank Rimerman Advisors LLC increased its stake in shares of Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.