Brokerages Set The Bank of New York Mellon Co. (NYSE:BK) PT at $79.77

Shares of The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $79.77.

Several analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Evercore ISI lifted their target price 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. Royal Bank of Canada reaffirmed 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. Morgan Stanley lifted 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 report on Monday, September 30th. Finally, StockNews.com lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Friday.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business's stock in a transaction 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 directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On Bank of New York Mellon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank's stock worth $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP grew its position in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock worth $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Marshall Wace LLP increased its stake in Bank of New York Mellon by 99.4% in the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock valued at $157,583,000 after acquiring an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. raised its position in Bank of New York Mellon by 6,040.9% during the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock valued at $62,154,000 after purchasing an additional 1,020,906 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in Bank of New York Mellon during the third quarter worth about $62,589,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 1.2 %

Shares of BK traded down $0.98 on Friday, reaching $80.51. The company's stock had a trading volume of 2,509,660 shares, compared to its average volume of 3,167,267. 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 firm has a fifty day moving average of $76.97 and a 200-day moving average of $68.36. The stock has a market capitalization of $58.54 billion, a PE ratio of 17.50, a PEG ratio of 0.91 and a beta of 1.07. Bank of New York Mellon has a twelve month low of $47.60 and a twelve month high of $82.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The company 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%. Equities analysts predict that Bank of New York Mellon will post 5.84 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.34%. Bank of New York Mellon's payout ratio is 40.87%.

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.