Bank of New York Mellon (NYSE:BNY) Stock Price Target Raised at JPMorgan Chase & Co.

Bank of New York Mellon (NYSE:BNY) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $159.00 to $161.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.23% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Bank of America lifted their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Truist Financial decreased their price target on shares of Bank of New York Mellon from $178.00 to $172.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Argus boosted their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Citigroup increased their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

Bank of New York Mellon Stock Up 0.6%

BNY stock traded up $0.82 during trading hours on Friday, reaching $144.74. 823,296 shares of the stock were exchanged, compared to its average volume of 3,690,605. The firm’s 50-day moving average is $157.87 and its 200-day moving average is $144.50. The company has a market cap of $98.21 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon has a 12 month low of $103.11 and a 12 month high of $165.84.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 earnings per share. On average, equities research analysts expect that Bank of New York Mellon will post 9.26 earnings per share for the current year.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the completion of the transaction, the vice president directly owned 176,824 shares in the company, valued at $26,309,642.96. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 38,840 shares of company stock valued at $6,033,502. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Bank of New York Mellon

A number of large investors have recently added to or reduced their stakes in the company. Sarver Vrooman Wealth Advisors increased its stake in shares of Bank of New York Mellon by 25.8% during the 3rd quarter. Sarver Vrooman Wealth Advisors now owns 1,546 shares of the bank’s stock worth $242,000 after purchasing an additional 317 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $47,929,000. Envestnet Portfolio Solutions Inc. bought a new position in Bank of New York Mellon during the second quarter worth about $11,295,000. Silicon Valley Capital Partners bought a new position in Bank of New York Mellon during the second quarter worth about $36,000. Finally, Bouchey Financial Group Ltd. acquired a new position in Bank of New York Mellon during the second quarter worth approximately $205,000. Institutional investors and hedge funds 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.