Bank of New York Mellon (NYSE:BK) Raised to “Buy” at StockNews.com

Bank of New York Mellon (NYSE:BK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Citigroup increased their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Down 0.2 %

NYSE:BK opened at $86.14 on Tuesday. Bank of New York Mellon has a 52 week low of $52.64 and a 52 week high of $87.70. The stock’s fifty day moving average is $79.85 and its two-hundred day moving average is $73.59. The stock has a market capitalization of $62.63 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. Research analysts anticipate that Bank of New York Mellon will post 6.86 EPS for the current year.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors have recently bought and sold shares of BK. McClarren Financial Advisors Inc. increased its position in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares in the last quarter. Grove Bank & Trust increased its position in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $46,000. Finally, Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $49,000. 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.