Bank of New York Mellon (NYSE:BK) Rating Lowered to Hold at StockNews.com

Bank of New York Mellon (NYSE:BK - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

BK has been the topic of a number of other research reports. Royal Bank of Canada reissued a "sector perform" rating and set a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Morgan Stanley upped their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. UBS Group lifted their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Barclays raised their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Bank of New York Mellon Price Performance

BK traded down $1.16 on Thursday, hitting $84.99. 2,444,048 shares of the company's stock were exchanged, compared to its average volume of 3,855,760. The stock has a market cap of $61.79 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 0.98 and a beta of 1.08. The firm has a 50-day moving average price of $80.70 and a 200-day moving average price of $74.83. Bank of New York Mellon has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. As a group, equities analysts anticipate that Bank of New York Mellon will post 6.89 earnings per share for the current year.

Institutional Trading of Bank of New York Mellon

Hedge funds have recently bought and sold shares of the company. WealthTrust Asset Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $1,050,000. Corient Private Wealth LLC boosted its stake in Bank of New York Mellon by 18.3% during the 4th quarter. Corient Private Wealth LLC now owns 335,507 shares of the bank's stock valued at $24,896,000 after purchasing an additional 51,913 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Bank of New York Mellon by 15.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 58,892 shares of the bank's stock worth $4,525,000 after purchasing an additional 7,863 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after buying an additional 17,457 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its position in Bank of New York Mellon by 20.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,200 shares of the bank's stock worth $92,000 after buying an additional 200 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

About Bank of New York Mellon

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.