Deutsche Bank Aktiengesellschaft Raises Bank of New York Mellon (NYSE:BK) Price Target to $85.00

Bank of New York Mellon (NYSE:BK) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $82.00 to $85.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other equities research analysts have also recently commented on BK. Morgan Stanley increased their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. The Goldman Sachs Group upped their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Barclays boosted their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.08.

Bank of New York Mellon Stock Down 0.0 %

NYSE:BK opened at $77.58 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $56.41 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The company has a 50-day moving average of $73.56 and a 200 day moving average of $65.66. Bank of New York Mellon has a 1-year low of $46.04 and a 1-year high of $80.29.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, research analysts anticipate that Bank of New York Mellon will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Insider Activity

In other news, 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 directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

Several institutional investors have recently modified their holdings of BK. Centiva Capital LP boosted its stake in shares of Bank of New York Mellon by 35.7% in the third quarter. Centiva Capital LP now owns 59,669 shares of the bank’s stock worth $4,288,000 after acquiring an additional 15,696 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at about $1,786,000. Ascent Group LLC lifted its stake in shares of Bank of New York Mellon by 81.3% in the third quarter. Ascent Group LLC now owns 12,666 shares of the bank’s stock worth $910,000 after buying an additional 5,680 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Bank of New York Mellon by 583.0% during the third quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock worth $741,000 after acquiring an additional 8,797 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in Bank of New York Mellon by 1,340.6% during the third quarter. Point72 Hong Kong Ltd now owns 15,400 shares of the bank’s stock worth $1,107,000 after acquiring an additional 14,331 shares during the last quarter. 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.