Bank of New York Mellon Corporation (NYSE:BNY) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is moderately positive: Fourteen brokerages rate BNY a consensus “Moderate Buy,” with seven buys, one strong buy, and six holds; the average 1-year price target is $165.04.
• Latest quarterly results beat estimates: BNY reported EPS of $2.37 versus the $2.26 consensus, while revenue rose 11.7% year over year to $5.68 billion.
• Insiders sold shares: Executives, including CEO Robin A. Vince, sold a combined 60,560 shares worth about $9.0 million in the last quarter.

Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) has received a consensus rating of "Moderate Buy" from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $165.04.

BNY has been the topic of a number of research reports. Zacks Research lowered shares of Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. Royal Bank Of Canada raised their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the company a "sector perform" rating in a report on Thursday, July 16th. Citigroup lowered their target price on Bank of New York Mellon from $160.00 to $157.00 and set a "neutral" rating on the stock in a research report on Monday, October 19th. Truist Financial lowered their price target on Bank of New York Mellon from $172.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, October 16th. Finally, Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They set a "buy" rating on the stock.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $147.92 on Friday. The firm's 50 day moving average price is $150.26 and its two-hundred day moving average price is $139.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon has a twelve month low of $105.42 and a twelve month high of $165.84. The firm has a market cap of $99.54 billion, a P/E ratio of 16.34, a PEG ratio of 0.98 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.11. The firm had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The company's revenue was up 11.7% on a year-over-year basis. On average, analysts forecast that Bank of New York Mellon will post 9.39 EPS for the current fiscal year.

Insider Transactions at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total value of $520,291.20. Following the sale, the vice president owned 173,304 shares in the company, valued at approximately $25,616,064.24. This represents a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robin A. Vince sold 40,620 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $147.81, for a total transaction of $6,004,042.20. Following the completion of the transaction, the chief executive officer directly owned 585,174 shares in the company, valued at $86,494,568.94. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,560 shares of company stock valued at $9,007,119 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bank of New York Mellon

Institutional investors have recently made changes to their positions in the company. Luken Investment Analytics LLC bought a new position in Bank of New York Mellon during the second quarter worth about $27,000. Balance Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the third quarter worth approximately $28,000. Burnham & Co LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $29,000. EFG International AG acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $32,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Company Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world's capital markets, partnering with clients to help them operate more efficiently and accelerate growth.

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