Analysts Set The Bank of New York Mellon Co. (NYSE:BK) PT at $91.31

Shares of The Bank of New York Mellon Co. (NYSE:BK) have earned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $91.31.

BK has been the topic of a number of research analyst reports. Citigroup boosted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Morgan Stanley reduced their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the sale, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 in the last 90 days. Insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

Several institutional investors have recently added to or reduced their stakes in the business. Aptus Capital Advisors LLC boosted its stake in Bank of New York Mellon by 3.4% during the 1st quarter. Aptus Capital Advisors LLC now owns 8,542 shares of the bank’s stock valued at $716,000 after purchasing an additional 280 shares during the last quarter. Brooklyn Investment Group boosted its stake in Bank of New York Mellon by 25.2% during the 1st quarter. Brooklyn Investment Group now owns 4,782 shares of the bank’s stock valued at $401,000 after purchasing an additional 961 shares during the last quarter. FCG Investment Co purchased a new stake in Bank of New York Mellon during the 1st quarter valued at $1,378,000. Affinity Investment Advisors LLC boosted its stake in Bank of New York Mellon by 9.0% during the 1st quarter. Affinity Investment Advisors LLC now owns 12,223 shares of the bank’s stock valued at $1,025,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Bank of New York Mellon by 3.3% during the 1st quarter. Raymond James Financial Inc. now owns 1,222,381 shares of the bank’s stock valued at $102,521,000 after purchasing an additional 38,535 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.0%

NYSE BK opened at $87.97 on Wednesday. Bank of New York Mellon has a 1-year low of $57.18 and a 1-year high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $80.75 and a 200-day moving average of $81.11. The firm has a market cap of $62.94 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the previous year, the business earned $1.29 EPS. Bank of New York Mellon’s revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.14%. Bank of New York Mellon’s payout ratio is currently 30.62%.

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.