Bank of New York Mellon Corporation (NYSE:BNY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Bank of New York Mellon Corporation (NYSE:BNY) have received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $156.73.

Several equities analysts have recently issued reports on BNY shares. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating for the company. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Bank of America boosted their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Citigroup upped their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada raised their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Bank of New York Mellon in the 2nd quarter valued at about $8,321,111,000. Bank of America Corp DE acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $2,499,438,000. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $1,398,624,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $1,214,193,000. Finally, Wellington Management Group LLP bought a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $1,175,576,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 0.0%

Shares of Bank of New York Mellon stock opened at $150.12 on Friday. The stock has a market capitalization of $101.86 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.13 and a beta of 1.05. Bank of New York Mellon has a twelve month low of $103.11 and a twelve month high of $165.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The business’s 50 day simple moving average is $158.92 and its 200-day simple moving average is $143.48.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 EPS. Equities research analysts forecast that Bank of New York Mellon will post 9.26 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.