Bank of New York Mellon (NYSE:BK) Upgraded to "Buy" at StockNews.com

Bank of New York Mellon (NYSE:BK - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. 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 research note on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Four 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, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded down $0.74 during trading hours on Friday, hitting $78.83. The company's stock had a trading volume of 2,982,509 shares, compared to its average volume of 3,828,686. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. Bank of New York Mellon has a 12-month low of $50.87 and a 12-month high of $82.72. The business has a 50 day moving average price of $77.82 and a two-hundred day moving average price of $68.96. The company has a market cap of $57.32 billion, a PE ratio of 17.14, a PEG ratio of 0.91 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.52 billion. Analysts expect that Bank of New York Mellon will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the firm'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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Bank of New York Mellon

Institutional investors have recently bought and sold shares of the company. United Advisor Group LLC acquired a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $595,000. Principal Financial Group Inc. raised its holdings in shares of Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after buying an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp lifted its stake in shares of Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock worth $6,002,000 after buying an additional 33,558 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after buying an additional 421,161 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank's stock valued at $23,449,000 after acquiring an additional 184,560 shares during the period. 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.