Bank Of New York Mellon (NYSE:BK) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts also recently issued reports on the stock. UBS downgraded shares of Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 target price on shares of Bank Of New York Mellon in a research report on Wednesday, November 15th. Morgan Stanley boosted their target price on shares of Bank Of New York Mellon from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. Goldman Sachs Group restated a “buy” rating and set a $58.00 price objective (up previously from $52.85) on shares of Bank Of New York Mellon in a report on Friday, October 20th. Finally, Jefferies Group restated a “hold” rating and set a $56.00 price objective on shares of Bank Of New York Mellon in a report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.28.

Bank Of New York Mellon (BK) opened at $54.02 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69. Bank Of New York Mellon has a 1 year low of $43.85 and a 1 year high of $55.40. The stock has a market cap of $55,737.52, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.98 and a beta of 1.22.

Bank Of New York Mellon (NYSE:BK) last released its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the company earned $0.90 EPS. Bank Of New York Mellon’s quarterly revenue was up 1.9% compared to the same quarter last year. research analysts expect that Bank Of New York Mellon will post 3.54 earnings per share for the current fiscal year.

In other news, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $54.15, for a total value of $2,065,930.80. Following the completion of the sale, the chief financial officer now owns 310,002 shares in the company, valued at approximately $16,786,608.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total transaction of $1,139,407.28. Following the completion of the sale, the insider now owns 181,815 shares of the company’s stock, valued at approximately $9,319,836.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,708,334 shares of company stock worth $404,956,863. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BK. Invictus RG bought a new position in Bank Of New York Mellon during the third quarter valued at about $102,000. First Interstate Bank grew its position in Bank Of New York Mellon by 56.2% during the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after buying an additional 842 shares during the period. Hudock Capital Group LLC grew its position in Bank Of New York Mellon by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after buying an additional 7 shares during the period. Advisory Services Network LLC grew its position in Bank Of New York Mellon by 15.5% during the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after buying an additional 363 shares during the period. Finally, Burt Wealth Advisors grew its position in Bank Of New York Mellon by 2,186.7% during the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock valued at $139,000 after buying an additional 2,624 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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Bank Of New York Mellon Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Analyst Recommendations for Bank Of New York Mellon (NYSE:BK)

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