Bank of New York Mellon (NYSE:BK) Given “In-Line” Rating at Evercore ISI

Evercore ISI reissued their in-line rating on shares of Bank of New York Mellon (NYSE:BK) in a research report report published on Wednesday morning, Benzinga reports. Evercore ISI currently has a $61.00 target price on the bank’s stock.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada restated a sector perform rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Bank of America boosted their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Morgan Stanley lifted their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an equal weight rating in a report on Thursday, April 18th. Jefferies Financial Group lifted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a buy rating in a report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods raised Bank of New York Mellon from a market perform rating to an outperform rating and lifted their target price for the stock from $60.00 to $70.00 in a report on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $61.15.

Bank of New York Mellon Trading Down 0.0 %

Shares of BK stock opened at $60.47 on Wednesday. The stock’s fifty day moving average price is $58.57 and its two-hundred day moving average price is $56.19. The company has a market cap of $45.22 billion, a PE ratio of 14.75, a P/E/G ratio of 1.20 and a beta of 1.09. Bank of New York Mellon has a fifty-two week low of $39.66 and a fifty-two week high of $60.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. Equities analysts predict that Bank of New York Mellon will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is 40.98%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 in the last ninety days. 0.14% of the stock is owned by company insiders.

Institutional Trading of Bank of New York Mellon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. increased its holdings in Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after purchasing an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $28,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Able Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $32,000. Finally, Hartford Financial Management Inc. grew its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

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.