Bank of New York Mellon Corporation (NYSE:BNY) Receives $156.47 Average PT from Analysts

Bank of New York Mellon Corporation (NYSE:BNY) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $157.1333.

Several research firms have recently weighed in on BNY. Weiss Ratings reissued a “buy (a)” rating on shares of Bank of New York Mellon in a report on Friday, July 31st. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Bank of America upped their price objective 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. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating on the stock. Finally, Barclays raised their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th.

Bank of New York Mellon Trading Down 0.1%

BNY opened at $158.66 on Friday. The stock has a market capitalization of $107.65 billion, a PE ratio of 18.47, a P/E/G ratio of 1.13 and a beta of 1.06. Bank of New York Mellon has a one year low of $99.67 and a one year high of $163.77. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 0.72. The business’s 50 day moving average price is $149.71 and its 200 day moving average price is $133.54.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.16 by $0.30. The business 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 EPS. As a group, equities research analysts expect that Bank of New York Mellon will post 9.25 EPS for the current year.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

Institutional investors and hedge funds have recently bought and sold shares of the stock. Abound Financial LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new stake in Bank of New York Mellon during the second quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $27,000. MCF Advisors LLC increased its stake 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 acquiring an additional 101 shares during the last quarter. Finally, Marquette Asset Management LLC raised its holdings in shares of Bank of New York Mellon by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares during the period. 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.