Bank of New York Mellon (NYSE:BK) Price Target Raised to $124.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised the price target for Bank of New York Mellon from $120.00 to $124.00, indicating a potential upside of 16.2% from the last closing price.
• The current average rating for Bank of New York Mellon is a "Moderate Buy", with ten analysts recommending a Buy and six assigning a Hold rating.
• Bank of New York Mellon has a market capitalization of $75.26 billion and reported a net margin of 12.27% in its recent earnings results.

Bank of New York Mellon (NYSE:BK - Get Free Report) had its price target lifted by equities researchers at Keefe, Bruyette & Woods from $120.00 to $124.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 16.20% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reiterated a "buy (b+)" rating on shares of Bank of New York Mellon in a research note on Wednesday, October 8th. TD Cowen started coverage on shares of Bank of New York Mellon in a research note on Thursday, September 25th. They set a "buy" rating on the stock. Citigroup increased their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a "neutral" rating in a research note on Friday, September 5th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Finally, BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an "outperform" rating and a $125.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average price target of $107.62.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $106.71 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon has a 1-year low of $70.46 and a 1-year high of $110.87. The firm has a market capitalization of $75.26 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13. The company's 50-day moving average is $105.54 and its 200 day moving average is $94.32.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. Research analysts forecast that Bank of New York Mellon will post 6.96 EPS for the current year.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BK. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in shares of Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank's stock worth $566,000 after acquiring an additional 98 shares during the last quarter. Tiemann Investment Advisors LLC grew its stake in shares of Bank of New York Mellon by 2.9% in the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank's stock worth $318,000 after acquiring an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of Bank of New York Mellon by 13.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank's stock worth $75,000 after acquiring an additional 100 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Bank of New York Mellon by 6.3% in the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank's stock worth $157,000 after acquiring an additional 102 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC grew its stake in shares of Bank of New York Mellon by 1.8% in the third quarter. Summit Financial Wealth Advisors LLC now owns 5,702 shares of the bank's stock worth $609,000 after acquiring an additional 103 shares during the last quarter. 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.

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