Bank of New York Mellon (NYSE:BK) Rating Lowered to “Hold” at StockNews.com

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

Several other equities analysts have also commented on BK. UBS Group raised their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Bank of America lifted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley upped their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Down 1.3 %

Shares of NYSE BK opened at $87.20 on Wednesday. Bank of New York Mellon has a 12 month low of $52.64 and a 12 month high of $89.44. 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 firm has a fifty day simple moving average of $81.87 and a two-hundred day simple moving average of $76.08. The firm has a market capitalization of $63.40 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. Equities analysts expect that Bank of New York Mellon will post 6.93 earnings per share for the current year.

Institutional Trading of Bank of New York Mellon

A number of hedge funds and other institutional investors have recently bought and sold shares of BK. Blue Trust Inc. raised its stake in Bank of New York Mellon by 95.4% during the 3rd quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock valued at $120,000 after purchasing an additional 817 shares during the period. Ledyard National Bank raised its position in shares of Bank of New York Mellon by 20.8% during the third quarter. Ledyard National Bank now owns 4,629 shares of the bank’s stock valued at $333,000 after buying an additional 798 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 10.8% in the third quarter. Foundations Investment Advisors LLC now owns 9,302 shares of the bank’s stock worth $668,000 after buying an additional 909 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Bank of New York Mellon by 186.0% during the third quarter. Sequoia Financial Advisors LLC now owns 50,613 shares of the bank’s stock worth $3,637,000 after acquiring an additional 32,914 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Bank of New York Mellon by 1.1% during the third quarter. Signaturefd LLC now owns 14,386 shares of the bank’s stock valued at $1,034,000 after acquiring an additional 157 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.