Bank of New York Mellon (NYSE:BK) Price Target Raised to $145.00

by · The Markets Daily

Bank of New York Mellon (NYSE:BK – Free Report) had its price objective upped by TD Cowen from $133.00 to $145.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday, December 29th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the company from $119.00 to $134.00 in a report on Wednesday. Barclays boosted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.43.

Get Our Latest Stock Report on Bank of New York Mellon

Bank of New York Mellon Trading Down 0.8%

Shares of BK opened at $119.03 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $83.01 billion, a P/E ratio of 17.18, a PEG ratio of 0.93 and a beta of 1.11. Bank of New York Mellon has a twelve month low of $70.46 and a twelve month high of $122.36. The firm has a fifty day simple moving average of $113.67 and a two-hundred day simple moving average of $106.40.

Bank of New York Mellon (NYSE:BK – Get Free Report) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, research analysts anticipate that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Institutional Investors Weigh In On Bank of New York Mellon

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $220,000. Jones Financial Companies Lllp raised its position in Bank of New York Mellon by 96.7% during the first quarter. Jones Financial Companies Lllp now owns 33,660 shares of the bank’s stock worth $2,823,000 after acquiring an additional 16,545 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Bank of New York Mellon during the 1st quarter worth approximately $222,000. Caxton Associates LLP purchased a new position in Bank of New York Mellon in the 1st quarter valued at $348,000. Finally, Great Lakes Advisors LLC grew its stake in Bank of New York Mellon by 3.2% during the 1st quarter. Great Lakes Advisors LLC now owns 39,976 shares of the bank’s stock valued at $3,353,000 after acquiring an additional 1,242 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

About Bank of New York Mellon

(Get Free Report)

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.

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