Bank of New York Mellon (NYSE:BK) Upgraded 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 research note issued to investors on Tuesday.

Several other brokerages have also issued reports on BK. Citigroup lifted their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Wells Fargo & Company increased their price target on 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. Morgan Stanley boosted their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Five 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 company has an average rating of "Moderate Buy" and a consensus price target of $77.23.

Bank of New York Mellon Stock Down 1.3 %

Shares of Bank of New York Mellon stock traded down $1.05 during trading on Tuesday, reaching $77.60. The stock had a trading volume of 2,168,312 shares, compared to its average volume of 3,856,105. 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 capitalization of $56.42 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 0.89 and a beta of 1.07. The stock has a fifty day moving average price of $74.21 and a two-hundred day moving average price of $66.17. Bank of New York Mellon has a 52 week low of $46.71 and a 52 week high of $80.29.

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 return on equity of 12.06% and a net margin of 9.44%. Sell-side analysts predict that Bank of New York Mellon will post 5.82 EPS for the current fiscal year.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the 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 in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business's 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 completion of the transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at $5,754,079.24. The trade was a 24.90 % 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 corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its position in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. Fortitude Family Office LLC grew its position in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after acquiring an additional 346 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon in the 3rd quarter worth about $46,000. 85.31% of the stock is owned by institutional investors.

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.