Bank of New York Mellon (NYSE:BK) Given New $90.00 Price Target at Evercore ISI

Bank of New York Mellon (NYSE:BK - Get Free Report) had its price objective raised by research analysts at Evercore ISI from $88.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "in-line" rating on the bank's stock. Evercore ISI's price objective indicates a potential downside of 2.22% from the company's current price.

A number of other brokerages have also commented on BK. Citigroup boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $92.08.

Bank of New York Mellon Stock Up 1.5%

Shares of NYSE:BK traded up $1.39 during midday trading on Wednesday, hitting $92.04. 4,257,223 shares of the company's stock traded hands, compared to its average volume of 4,118,368. Bank of New York Mellon has a twelve month low of $59.19 and a twelve month high of $92.64. The firm's fifty day moving average price is $87.50 and its two-hundred day moving average price is $83.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $65.85 billion, a PE ratio of 14.99, a P/E/G ratio of 1.01 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. On average, equities research analysts anticipate that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider directly owned 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president owned 87,542 shares of the company's stock, valued at $6,767,872.02. This represents a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Bank of New York Mellon

A number of large investors have recently modified their holdings of BK. FMR LLC increased its stake in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares during the period. Norges Bank bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $1,150,462,000. Ameriprise Financial Inc. increased its position in Bank of New York Mellon by 1.9% in the 1st quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank's stock valued at $1,010,093,000 after acquiring an additional 221,613 shares during the period. Northern Trust Corp increased its position in Bank of New York Mellon by 19.1% in the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares during the period. Finally, Nuveen LLC bought a new stake in Bank of New York Mellon during the 1st quarter valued at $773,627,000. 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.