Bank of New York Mellon (NYSE:BK) Price Target Raised to $96.00 at Keefe, Bruyette & Woods

Bank of New York Mellon (NYSE:BK) had its price target increased by Keefe, Bruyette & Woods from $87.00 to $96.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the bank’s stock.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays lifted their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Wells Fargo & Company lifted 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. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.77.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $80.86 on Tuesday. The company has a market capitalization of $58.79 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. Bank of New York Mellon has a 52 week low of $47.48 and a 52 week high of $82.72. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $76.43 and a 200 day moving average of $67.90.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, sell-side analysts predict that Bank of New York Mellon will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction 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 approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BK. United Advisor Group LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $595,000. Principal Financial Group Inc. raised its position in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares during the last quarter. Chase Investment Counsel Corp raised its position in shares of Bank of New York Mellon by 67.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares during the last quarter. Finally, Williams Financial LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $587,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.