Deutsche Bank Aktiengesellschaft Raises Bank of New York Mellon (NYSE:BK) Price Target to $85.00

Bank of New York Mellon (NYSE:BK - Free Report) had its target price upped by Deutsche Bank Aktiengesellschaft from $82.00 to $85.00 in a research report released on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the bank's stock.

Other analysts also recently issued research reports about the stock. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. Citigroup raised their price objective 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. UBS Group raised 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. StockNews.com upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.08.

Bank of New York Mellon Stock Up 2.1 %

Shares of BK traded up $1.65 during trading hours on Monday, reaching $78.71. 3,201,421 shares of the stock traded hands, compared to its average volume of 3,861,214. 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 stock has a fifty day simple moving average of $72.95 and a 200 day simple moving average of $65.28. Bank of New York Mellon has a 52 week low of $45.22 and a 52 week high of $80.29. The company has a market cap of $57.23 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.90 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, equities analysts forecast 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. Stockholders of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 40.87%.

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BK. Entropy Technologies LP purchased a new position in Bank of New York Mellon during the 1st quarter valued at $1,027,000. United Advisor Group LLC purchased a new position in Bank of New York Mellon during the 3rd quarter valued at $595,000. Bessemer Group Inc. increased its position in Bank of New York Mellon by 128.8% during the 1st quarter. Bessemer Group Inc. now owns 30,755 shares of the bank's stock valued at $1,771,000 after purchasing an additional 17,312 shares during the period. Ameriprise Financial Inc. increased its position in Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after purchasing an additional 421,161 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in Bank of New York Mellon during the 1st quarter valued at $6,087,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

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.