1 week Ago By ABMN Staff
Bank of New York Mellon ( NYSE:BK – Get Free Report ) had its target price raised by investment analysts at Wells Fargo & Company from $81.00 to $82.00 in a research note issued to investors on Thursday, Benzinga reports.
The brokerage presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company ‘s price target suggests a potential upside of 6.59% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $82.00 to $85.
00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group upped their price target on Bank of New York Mellon from $73.00 to $82.
00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Citigroup raised their price objective on shares of Bank of New York Mellon from $75.00 to $82.
00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th.
Finally, Evercore ISI increased their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th.
Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.77.
Check Out Our Latest Research Report on Bank of New York Mellon Bank of New York Mellon Price Performance Bank of New York Mellon ( NYSE:BK – Get Free Report ) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.
41 by $0.11. The business had revenue of $4.
65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.
44% and a return on equity of 12.06%. Analysts forecast that Bank of New York Mellon will post 5.
84 EPS for the current fiscal year. Insider Transactions at Bank of New York Mellon In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.
31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.
24. This represents a 24.90 % decrease in their ownership of the stock.
The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link . Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.
47, for a total transaction of $1,259,843.25. Following the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.
85. The trade was a 9.47 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Company insiders own 0.14% of the company’s stock.
Institutional Trading of Bank of New York Mellon Several hedge funds and other institutional investors have recently made changes to their positions in BK. McClarren Financial Advisors Inc. raised its holdings in Bank of New York Mellon by 586.
4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares during the last quarter.
Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. Fortitude Family Office LLC boosted its position in shares of Bank of New York Mellon by 130.6% in the 3rd quarter.
Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares in the last quarter. Grove Bank & Trust grew its stake in Bank of New York Mellon by 28.8% in the 3rd quarter.
Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 85.
31% of the company’s stock. Bank of New York Mellon Company Profile ( Get Free Report ) The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments.
The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics. Further Reading Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter .
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