Bank of New York Mellon Corporation (NYSE:BNY) Receives $157.13 Average PT from Analysts

Shares of Bank of New York Mellon Corporation (NYSE:BNY) have been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $157.1333.

Several equities research analysts have recently weighed in on BNY shares. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. increased their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Argus increased their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $162.28 on Tuesday. Bank of New York Mellon has a 12 month low of $102.63 and a 12 month high of $165.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $110.11 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The business’s fifty day moving average price is $155.35 and its 200 day moving average price is $137.89.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the business earned $1.93 EPS. Bank of New York Mellon’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of New York Mellon will post 9.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds have recently made changes to their positions in the company. Abound Financial LLC purchased a new position in Bank of New York Mellon during the 4th quarter worth approximately $25,000. MCF Advisors LLC increased its position in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the period. Luken Investment Analytics LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at approximately $27,000. Burnham & Co LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at approximately $29,000. Finally, EFG International AG purchased a new stake in Bank of New York Mellon in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

About Bank of New York Mellon

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.