Bank of New York Mellon Corporation (NYSE:BNY) Receives $157.13 Average PT from Brokerages

Bank of New York Mellon Corporation (NYSE:BNY) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $157.1333.

A number of research firms have recently commented on BNY. Truist Financial raised their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Argus upped their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Citigroup increased their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Bank of America lifted their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, the vice president owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

Several large investors have recently bought and sold shares of BNY. BlackRock Inc. acquired a new stake in shares of Bank of New York Mellon in the second quarter worth approximately $8,321,111,000. Bank of America Corp DE acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $2,499,438,000. Norges Bank acquired a new position in Bank of New York Mellon in the 4th quarter valued at $1,398,624,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bank of New York Mellon in the 2nd quarter valued at $1,214,193,000. Finally, Wellington Management Group LLP acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $1,175,576,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.2%

Shares of BNY stock opened at $154.13 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon has a twelve month low of $103.11 and a twelve month high of $165.84. The stock has a 50 day moving average of $159.64 and a 200 day moving average of $142.73. The stock has a market cap of $104.58 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.16 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the company earned $1.93 EPS. The business’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Bank of New York Mellon will post 9.26 EPS for the current year.

Bank of New York Mellon Company Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.