Brokerages Set The Bank of New York Mellon Co. (NYSE:BK) Target Price at $76.69

Shares of The Bank of New York Mellon Co. (NYSE:BK) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $76.69.

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Morgan Stanley lifted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th.

Bank of New York Mellon Trading Down 1.7 %

BK stock opened at $75.20 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The company has a fifty day moving average price of $70.78 and a two-hundred day moving average price of $63.60. Bank of New York Mellon has a one year low of $41.44 and a one year high of $78.03. The stock has a market cap of $56.24 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. raised its stake 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 acquiring an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth about $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Bank of New York Mellon during the first quarter worth about $32,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.