Evercore ISI Issues Positive Forecast for Bank of New York Mellon (NYSE:BK) Stock Price

Bank of New York Mellon (NYSE:BK) had its price objective raised by analysts at Evercore ISI from $83.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the bank’s stock. Evercore ISI’s price target indicates a potential upside of 4.22% from the stock’s current price.

Several other analysts also recently commented on BK. Barclays raised 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 research report on Thursday, January 16th. Bank of America lifted their price target 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. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Truist Financial raised 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 report on Thursday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded down $0.40 during trading on Tuesday, hitting $83.48. 423,754 shares of the company were exchanged, compared to its average volume of 4,253,517. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $59.93 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. Bank of New York Mellon has a 1-year low of $52.64 and a 1-year high of $90.34. The business’s 50 day moving average is $85.35 and its 200-day moving average is $79.80.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company earned $1.28 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts forecast that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Institutional Investors Weigh In On Bank of New York Mellon

A number of large investors have recently added to or reduced their stakes in BK. 111 Capital purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $477,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Bank of New York Mellon by 93.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 173,070 shares of the bank’s stock worth $13,297,000 after acquiring an additional 83,649 shares during the period. Park Square Financial Group LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $158,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $61,945,000. Finally, REAP Financial Group LLC grew its position in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after purchasing an additional 218 shares during the last quarter. Institutional investors 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.