Bank of New York Mellon (NYSE:BK) Price Target Increased to $86.00 by Analysts at Barclays

Bank of New York Mellon (NYSE:BK) had its price objective raised by Barclays from $75.00 to $86.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

A number of other research analysts also recently weighed in on the company. Evercore ISI raised their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an in-line rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, September 26th. UBS Group upped their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a buy rating in a report on Tuesday, October 8th. Citigroup lifted their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a neutral rating in a report on Thursday, September 19th. Finally, Morgan Stanley raised their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an equal weight rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $76.69.

Bank of New York Mellon Stock Performance

BK stock opened at $76.51 on Monday. The stock has a market cap of $57.22 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.16 and a beta of 1.08. Bank of New York Mellon has a 52 week low of $39.66 and a 52 week high of $76.61. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50 day simple moving average of $68.67 and a 200 day simple moving average of $62.60.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the business posted $1.38 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Bank of New York Mellon will post 5.66 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.46%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

Institutional investors and hedge funds have recently made changes to their positions in the company. Olistico Wealth LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $30,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon during the first quarter worth approximately $32,000. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000. Family Firm Inc. acquired a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $40,000. Finally, Grove Bank & Trust grew its position in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds 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.