Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Bank of New York Mellon (NYSE:BK) Stock

Bank of New York Mellon (NYSE:BK) had its price target hoisted by analysts at Deutsche Bank Aktiengesellschaft from $94.00 to $98.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 17.63% from the company’s previous close.

Several other brokerages have also recently issued reports on BK. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, January 2nd. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. UBS Group raised their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley cut their target price on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.14.

Bank of New York Mellon Stock Up 1.3 %

BK stock opened at $83.31 on Thursday. The stock has a market capitalization of $60.57 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. Bank of New York Mellon has a 1-year low of $52.64 and a 1-year high of $83.67. The business has a fifty day moving average price of $78.74 and a 200-day moving average price of $72.08.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts forecast that Bank of New York Mellon will post 5.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of New York Mellon

A number of hedge funds have recently made changes to their positions in BK. New Century Financial Group LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth $342,000. Apeiron RIA LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $594,000. IVC Wealth Advisors LLC increased its holdings in shares of Bank of New York Mellon by 2.3% in the 4th quarter. IVC Wealth Advisors LLC now owns 7,475 shares of the bank’s stock worth $574,000 after buying an additional 167 shares during the last quarter. Donoghue Forlines LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $3,555,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of Bank of New York Mellon by 33.4% in the 4th quarter. Avior Wealth Management LLC now owns 5,940 shares of the bank’s stock valued at $456,000 after acquiring an additional 1,488 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other 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.