Citigroup Issues Positive Forecast for Bank of New York Mellon (NYSE:BK) Stock Price

Bank of New York Mellon (NYSE:BK - Get Free Report) had its price objective lifted by analysts at Citigroup from $82.00 to $85.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. Citigroup's price objective suggests a potential upside of 2.38% from the company's current price.

A number of other equities analysts have also issued reports on the stock. UBS Group upped their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Barclays boosted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an "in-line" rating in a research note on Thursday, January 16th. Finally, StockNews.com lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.71.

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Bank of New York Mellon Price Performance

Shares of NYSE:BK traded down $1.46 on Monday, hitting $83.02. The stock had a trading volume of 663,695 shares, compared to its average volume of 4,285,982. The company has a market capitalization of $59.61 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The firm's 50 day moving average price is $85.35 and its 200-day moving average price is $79.42. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. Bank of New York Mellon has a twelve month low of $52.64 and a twelve month high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business's revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.28 EPS. On average, equities research analysts predict that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Institutional Trading of Bank of New York Mellon

Hedge funds have recently modified their holdings of the stock. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $25,000. Bellwether Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $28,000. REAP Financial Group LLC increased its holdings in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after purchasing an additional 218 shares during the period. Transce3nd LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $33,000. Finally, South Plains Financial Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.31% of the company's stock.

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.