Investment Analysts’ Weekly Ratings Changes for Bank of New York Mellon (BK)

Several brokerages have updated their recommendations and price targets on shares of Bank of New York Mellon (NYSE: BK) in the last few weeks:

• 1/7/2025 – Bank of New York Mellon is now covered by analysts at Truist Financial Co.. They set a “buy” rating and a $91.00 price target on the stock.
• 1/6/2025 – Bank of New York Mellon had its price target raised by analysts at Barclays PLC from $86.00 to $102.00. They now have an “overweight” rating on the stock.
• 1/3/2025 – Bank of New York Mellon was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating.
• 1/3/2025 – Bank of New York Mellon had its price target lowered by analysts at Morgan Stanley from $94.00 to $90.00. They now have an “overweight” rating on the stock.
• 1/2/2025 – Bank of New York Mellon had its price target raised by analysts at Wells Fargo & Company from $81.00 to $82.00. They now have an “equal weight” rating on the stock.
• 12/14/2024 – Bank of New York Mellon was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 12/9/2024 – Bank of New York Mellon was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $94.00 price target on the stock, up previously from $82.00.
• 12/6/2024 – Bank of New York Mellon was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 12/3/2024 – Bank of New York Mellon had its price target raised by analysts at Keefe, Bruyette & Woods from $87.00 to $96.00. They now have an “outperform” rating on the stock.
• 11/25/2024 – Bank of New York Mellon had its price target raised by analysts at Citigroup Inc. from $75.00 to $82.00. They now have a “neutral” rating on the stock.
• 11/19/2024 – Bank of New York Mellon was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/15/2024 – Bank of New York Mellon had its price target raised by analysts at Wells Fargo & Company from $79.00 to $81.00. They now have an “equal weight” rating on the stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded down $0.18 during midday trading on Tuesday, hitting $75.93. The company had a trading volume of 4,688,122 shares, compared to its average volume of 3,756,804. The stock has a market cap of $55.21 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.91 and a beta of 1.08. 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 Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $82.72. The company has a fifty day simple moving average of $78.58 and a 200 day simple moving average of $71.82.

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

Institutional Investors Weigh In On Bank of New York Mellon

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. FMR LLC lifted its holdings in Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 valued at $623,891,000 after buying an additional 421,161 shares during the last quarter. Legal & General Group Plc lifted its holdings in Bank of New York Mellon by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock worth $482,597,000 after buying an additional 97,286 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bank of New York Mellon by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock worth $434,370,000 after purchasing an additional 454,151 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.