Bank of New York Mellon (NYSE:BK) Price Target Lowered to $87.00 at Truist Financial

Bank of New York Mellon (NYSE:BK - Get Free Report) had its price target lowered by analysts at Truist Financial from $90.00 to $87.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. Truist Financial's target price suggests a potential upside of 14.10% from the stock's current price.

A number of other equities research analysts have also recently weighed in on BK. Deutsche Bank Aktiengesellschaft lifted their price target 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. Bank of America increased their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Finally, Morgan Stanley reduced their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.64.

Bank of New York Mellon Trading Up 0.7 %

Shares of BK traded up $0.52 during mid-day trading on Monday, reaching $76.25. The stock had a trading volume of 4,317,948 shares, compared to its average volume of 3,959,539. Bank of New York Mellon has a 52-week low of $54.76 and a 52-week high of $90.34. The firm has a market cap of $54.75 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03. The business's fifty day moving average is $82.91 and its 200 day moving average is $80.26. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the firm earned $1.29 EPS. The business's revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bank of New York Mellon

Several institutional investors and hedge funds have recently added to or reduced their stakes in BK. Norges Bank acquired a new position in Bank of New York Mellon in the 4th quarter valued at $1,150,462,000. FMR LLC increased its stake in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares during the period. Northern Trust Corp lifted its position in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock worth $732,468,000 after purchasing an additional 1,526,686 shares during the last quarter. GAMMA Investing LLC boosted its stake in Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after purchasing an additional 1,385,434 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $90,955,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

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.