Bank of New York Mellon (NYSE:BK) Given New $82.00 Price Target at Citigroup

Bank of New York Mellon (NYSE:BK - Free Report) had its target price lifted by Citigroup from $75.00 to $82.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the bank's stock.

A number of other brokerages have also recently commented on BK. Morgan Stanley lifted their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. The Goldman Sachs Group boosted their target price on 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. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. Barclays lifted their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.15.

Bank of New York Mellon Price Performance

NYSE BK traded up $1.08 on Monday, hitting $81.22. 5,329,167 shares of the company were exchanged, compared to its average volume of 3,851,674. Bank of New York Mellon has a 1-year low of $46.81 and a 1-year high of $81.62. The firm has a 50 day moving average of $75.03 and a two-hundred day moving average of $66.77. 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 company has a market cap of $59.05 billion, a P/E ratio of 17.61, a P/E/G ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, equities analysts predict that Bank of New York Mellon will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. Bank of New York Mellon's payout ratio is presently 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was 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 owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. McClarren Financial Advisors Inc. increased its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after buying an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new stake in Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter valued at $32,000. Family Firm Inc. bought a new position in Bank of New York Mellon during the second quarter worth $40,000. Finally, Fortitude Family Office LLC increased its holdings 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 valued at $44,000 after purchasing an additional 346 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.