Brokerages Set The Bank of New York Mellon Co. (NYSE:BK) Target Price at $76.69

The Bank of New York Mellon Co. (NYSE:BK) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $76.69.

Several analysts recently commented on the company. Wells Fargo & Company upped their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Citigroup upped their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. The Goldman Sachs Group upped their target price on 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. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $75.20 on Friday. The stock’s 50-day moving average is $70.78 and its 200-day moving average is $63.60. Bank of New York Mellon has a 1-year low of $41.44 and a 1-year high of $78.03. The stock has a market cap of $56.24 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. grew its stake in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares during the period. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth $30,000. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Bank of New York Mellon during the 1st quarter worth $32,000. Finally, Fortitude Family Office LLC grew its stake in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the period. Institutional investors own 85.31% of the company’s stock.

About Bank of New York Mellon

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.