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

Bank of New York Mellon Corporation (NYSE:BNY) has been given an average recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $156.4667.

Several research firms have weighed in on BNY. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. Truist Financial lifted their price target on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Erste Group Bank initiated coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $140.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Royal Bank Of Canada increased their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th.

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction that occurred 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 document filed with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Bank of New York Mellon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BNY. Todd Asset Management LLC lifted its position in shares of Bank of New York Mellon by 37.5% during the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after purchasing an additional 101,142 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Bank of New York Mellon by 53.8% in the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock valued at $21,129,000 after purchasing an additional 63,627 shares during the period. Prospera Financial Services Inc grew its holdings in shares of Bank of New York Mellon by 106.5% in the fourth quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock valued at $2,220,000 after purchasing an additional 9,865 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in Bank of New York Mellon by 26.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 124,015 shares of the bank’s stock worth $14,397,000 after buying an additional 25,642 shares during the period. Finally, Axxcess Wealth Management LLC increased its stake in Bank of New York Mellon by 282.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 92,414 shares of the bank’s stock worth $10,728,000 after buying an additional 68,262 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.2%

NYSE BNY opened at $156.61 on Friday. The business’s fifty day simple moving average is $148.30 and its 200-day simple moving average is $132.57. The company has a quick ratio of 0.75, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market cap of $107.49 billion, a PE ratio of 18.23, a P/E/G ratio of 1.11 and a beta of 1.06. Bank of New York Mellon has a 52 week low of $98.40 and a 52 week high of $163.77.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. Bank of New York Mellon’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Bank of New York Mellon will post 9.24 earnings per share for the current year.

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.