Bank of New York Mellon (NYSE:BK) Stock Price Expected to Rise, Citigroup Analyst Says

Bank of New York Mellon (NYSE:BK) had its price target lifted by research analysts at Citigroup from $75.00 to $82.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Citigroup’s price objective would suggest a potential upside of 0.90% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays upped their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. UBS Group upped their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Evercore ISI upped their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

Bank of New York Mellon Trading Up 0.1 %

NYSE BK opened at $81.27 on Monday. The business’s 50-day moving average price is $75.46 and its two-hundred day moving average price is $67.10. Bank of New York Mellon has a 12 month low of $46.81 and a 12 month high of $81.62. The firm has a market capitalization of $59.09 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, analysts expect that Bank of New York Mellon will post 5.82 EPS for the current year.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction on 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 directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

A number of institutional investors have recently made changes to their positions in BK. McClarren Financial Advisors Inc. boosted its stake in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $40,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares in 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.