Bank of New York Mellon (NYSE:BK) Given New $82.00 Price Target at Wells Fargo & Company

Bank of New York Mellon (NYSE:BK) had its price objective raised by Wells Fargo & Company from $81.00 to $82.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays raised their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Evercore ISI boosted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.08.

Bank of New York Mellon Trading Up 0.8 %

Shares of BK stock opened at $77.41 on Thursday. The company has a market capitalization of $56.28 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 0.91 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. The business’s 50 day moving average is $78.38 and its two-hundred day moving average is $70.75. Bank of New York Mellon has a twelve month low of $51.79 and a twelve month high of $82.72.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Equities analysts forecast that Bank of New York Mellon will post 5.84 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.43%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Activity

In other Bank of New York Mellon 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 transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 157,455 shares of the company’s stock, 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.

Institutional Trading of Bank of New York Mellon

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in shares of Bank of New York Mellon by 19.6% during the second quarter. Farther Finance Advisors LLC now owns 3,974 shares of the bank’s stock valued at $239,000 after purchasing an additional 650 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 8.4% during the second quarter. Natixis Advisors LLC now owns 269,747 shares of the bank’s stock valued at $16,155,000 after acquiring an additional 20,834 shares during the period. Fiera Capital Corp grew its position in shares of Bank of New York Mellon by 35.6% during the second quarter. Fiera Capital Corp now owns 62,068 shares of the bank’s stock worth $3,717,000 after acquiring an additional 16,289 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $335,000. Finally, Founders Financial Securities LLC lifted its position in Bank of New York Mellon by 11.8% in the 2nd quarter. Founders Financial Securities LLC now owns 7,862 shares of the bank’s stock valued at $471,000 after purchasing an additional 830 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.