Bank of New York Mellon (NYSE:BNY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Bank of New York Mellon (NYSE:BNY) had its target price hoisted by research analysts at Wells Fargo & Company from $137.00 to $152.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 4.51% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, April 17th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Morgan Stanley raised their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Barclays lifted their price target on 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. Finally, Citigroup upped their price target on Bank of New York Mellon from $136.00 to $167.00 and gave the stock a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.77.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $145.44 on Wednesday. The stock has a market capitalization of $99.83 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.07 and a beta of 1.07. Bank of New York Mellon has a 12 month low of $89.45 and a 12 month high of $148.50. The firm’s 50 day simple moving average is $137.93 and its 200-day simple moving average is $125.55. 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 posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the firm earned $1.58 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. Analysts expect that Bank of New York Mellon will post 8.78 EPS for the current year.

Insider Activity at Bank of New York Mellon

In other news, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bank of New York Mellon

Large investors have recently bought and sold shares of the company. Abound Financial LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Bank of New York Mellon during the 4th quarter worth $27,000. MCF Advisors LLC boosted its stake in Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Marquette Asset Management LLC grew its holdings in shares of Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares in the last quarter. Finally, Heritage Wealth Advisors purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $31,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

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.