Bank of New York Mellon Corporation (NYSE:BNY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Bank of New York Mellon Corporation (NYSE:BNY) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $143.4615.

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Citigroup increased their target price on shares of Bank of New York Mellon from $136.00 to $167.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price target on shares of Bank of New York Mellon from $140.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Finally, Barclays lifted their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th.

Insider Activity at Bank of New York Mellon

In related news, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 48,091 shares of company stock valued at $6,568,423. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in Bank of New York Mellon by 9.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 12,045 shares of the bank’s stock worth $1,489,000 after purchasing an additional 1,031 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Bank of New York Mellon by 7.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 148,115 shares of the bank’s stock valued at $17,571,000 after purchasing an additional 10,107 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Bank of New York Mellon by 17.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 141,899 shares of the bank’s stock worth $16,473,000 after buying an additional 21,506 shares during the period. World Investment Advisors raised its stake in shares of Bank of New York Mellon by 14.4% during the fourth quarter. World Investment Advisors now owns 72,285 shares of the bank’s stock worth $8,391,000 after buying an additional 9,105 shares during the last quarter. Finally, Advisortrust Partners LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $207,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded down $0.29 during trading on Monday, hitting $151.97. 2,296,791 shares of the company’s stock traded hands, compared to its average volume of 3,883,574. The company has a market cap of $104.31 billion, a PE ratio of 18.83, a PEG ratio of 1.12 and a beta of 1.07. The firm’s fifty day moving average price is $141.45 and its 200 day moving average price is $128.37. Bank of New York Mellon has a twelve month low of $92.67 and a twelve month high of $155.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. Analysts forecast that Bank of New York Mellon will post 8.94 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.4%. Bank of New York Mellon’s dividend payout ratio is currently 26.27%.

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.