Bank of New York Mellon Price Target Increased to $29.00 by Analysts at Jefferies & Co. (BK)
Jefferies & Co. lifted their price target on shares of Bank of New York Mellon (NYSE: BK) from $26.00 to $29.00 in a research note issued on Monday. The firm currently has a “hold” rating on the stock.
A number of other firms have also recently commented on BK. Analysts at Jefferies Group reiterated a “hold” rating on shares of Bank of New York Mellon in a research note to investors on Monday. They now have a $29.00 price target on the stock, up previously from $26.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Bank of New York Mellon in a research note to investors on Wednesday, February 27th. Finally, analysts at JPMorgan Chase reiterated a “neutral” rating on shares of Bank of New York Mellon in a research note to investors on Monday, February 25th. They now have a $28.00 price target on the stock, up previously from $25.50.
Three equities research analysts have rated the stock with a buy rating, one has given an overweight rating, sixteen have assigned a hold rating, one has given an underweight rating, and two have issued a sell rating to the stock. Bank of New York Mellon presently has a consensus rating of “hold” and a consensus target price of $27.02.
Shares of Bank of New York Mellon traded up 1.40% during mid-day trading on Monday, hitting $27.58. Bank of New York Mellon has a 52 week low of $19.30 and a 52 week high of $28.45. The stock’s 50-day moving average is currently $27.29. The company has a market cap of $32.089 billion and a P/E ratio of 13.40.
Bank of New York Mellon last announced its earnings results on Wednesday, January 16th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.55 by $0.02. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon will post $2.23 earnings per share for the current fiscal year.
The Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company. The Company divides its businesses into two principal segments: Investment Management and Investment Services.
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