Bank of New York Mellon (NYSE:BK) Stock Rating Upgraded by Morgan Stanley

Bank of New York Mellon (NYSE:BK - Get Free Report) was upgraded by investment analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $94.00 price target on the bank's stock, up from their prior price target of $82.00. Morgan Stanley's price objective indicates a potential upside of 16.61% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Citigroup raised their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Evercore ISI lifted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a research report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

Bank of New York Mellon Stock Performance

Shares of BK traded up $0.10 during trading hours on Monday, reaching $80.61. 5,696,166 shares of the company's stock traded hands, compared to its average volume of 3,821,004. Bank of New York Mellon has a twelve month low of $49.15 and a twelve month high of $82.72. The business's fifty day simple moving average is $76.97 and its two-hundred day simple moving average is $68.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $58.61 billion, a price-to-earnings ratio of 17.50, 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 released its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Analysts predict that Bank of New York Mellon will post 5.84 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In other news, 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 value of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was 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 in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bank of New York Mellon

Several institutional investors and hedge funds have recently modified their holdings of BK. Studio Investment Management LLC increased its position in Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock valued at $477,000 after acquiring an additional 134 shares during the period. Stanley Laman Group Ltd. raised its holdings in Bank of New York Mellon by 2.2% during the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after buying an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock valued at $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock worth $928,000 after purchasing an additional 142 shares in the last quarter. Finally, Sigma Planning Corp lifted its holdings in Bank of New York Mellon by 2.7% during the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock worth $393,000 after acquiring an additional 143 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

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.