Bank of New York Mellon (NYSE:BK) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Bank of New York Mellon (NYSE:BK) from a buy rating to a hold rating in a report released on Monday morning.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays raised their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.08.

Bank of New York Mellon Trading Down 0.0 %

Shares of BK stock opened at $77.58 on Monday. Bank of New York Mellon has a 12-month low of $46.04 and a 12-month high of $80.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $73.56 and a 200-day moving average of $65.66. The firm has a market cap of $56.41 billion, a P/E ratio of 16.87, a PEG ratio of 0.90 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Sell-side analysts anticipate that Bank of New York Mellon will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $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

Large investors have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. grew its stake in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new position in Bank of New York Mellon during the 2nd quarter worth approximately $30,000. Clearstead Trust LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $32,000. Fortitude Family Office LLC lifted its position in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors 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.