Bank of America Raises Bank of New York Mellon (NYSE:BK) Price Target to $95.00

Bank of New York Mellon (NYSE:BK) had its price target boosted by analysts at Bank of America from $90.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Bank of America‘s target price suggests a potential upside of 16.61% from the company’s previous close.

A number of other equities research analysts have also commented on BK. Evercore ISI raised their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday. Truist Financial raised their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley dropped their price objective on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.14.

Bank of New York Mellon Trading Down 0.7 %

Shares of Bank of New York Mellon stock traded down $0.57 during trading on Thursday, hitting $81.47. The stock had a trading volume of 2,068,587 shares, compared to its average volume of 4,132,274. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $59.24 billion, a PE ratio of 17.71, a P/E/G ratio of 0.76 and a beta of 1.08. Bank of New York Mellon has a 1 year low of $52.64 and a 1 year high of $82.72. The stock has a 50 day simple moving average of $78.58 and a 200 day simple moving average of $71.94.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, research analysts expect that Bank of New York Mellon will post 5.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BK. UMB Bank n.a. raised its holdings in Bank of New York Mellon by 2,123.7% in the 4th quarter. UMB Bank n.a. now owns 97,953 shares of the bank’s stock worth $7,526,000 after acquiring an additional 93,548 shares during the period. M.E. Allison & CO. Inc. acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $371,000. Ellsworth Advisors LLC increased its stake in shares of Bank of New York Mellon by 26.3% in the fourth quarter. Ellsworth Advisors LLC now owns 6,039 shares of the bank’s stock worth $464,000 after purchasing an additional 1,256 shares during the period. Grove Bank & Trust lifted its position in shares of Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after purchasing an additional 135 shares during the last quarter. Finally, My Legacy Advisors LLC boosted its stake in Bank of New York Mellon by 7.9% during the 4th quarter. My Legacy Advisors LLC now owns 4,083 shares of the bank’s stock valued at $335,000 after purchasing an additional 298 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Company Profile

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.